The Partnership Agreement
In the interests of clarity, develop a partnership agreement with your partners. Please do not make this agreement excessively formal and refrain from using a legal template. It is advisable but not necessary for your partners to sign the agreement, but please do share it with them. Your partnership agreement should address the following:
Objective: Objective of the partnership
Partner roles and responsibilities: Identification of partners and a description of the roles and
responsibilities of each partner.
Statement of work: A statement describing what you will do in terms of the development of a
business model and when you will do it
Deliverables: A description of what you will deliver and when
Communications: Expectations for communication in terms of their frequency and modality
Intellectual property: Requirements for confidentiality (non-disclosure commitments),
identification of the background intellectual property (IP), ownership of foreground IP developed during the project
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