Consortium agreement
ON QUOTATION
Two or more companies may decide to pool their means, resources and know-how to carry out a common project. This is called a consortium.
Why make a consortium agreement?
Since the goal is to achieve a common result, it is important to clearly define the rights and obligations of each party in the project, as well as to consider how any gains from this joint work will be shared. As the results of this consortium may generate intellectual property, this point should not be overlooked in the contract.
Certain points in the consortium agreement are essential for the smooth running of your project with your partner(s) (consorts):
- The purpose of the consortium agreement, what is the purpose, why did the consortia come together.
- The duration of the contract, the time the consortium will last and the resulting project.
- Intellectual property of knowledge and results, what belongs to each party (own knowledge and results), what belongs to both (common results), how these results can be exploited by the parties in the future etc.
- Confidentiality of consortium elements, determining which information is confidential and which is not.
- Non-competition between the members of the consortium, to avoid that some consorts in the same field of activity harm each other
Calling on an IP professional
The questions of ownership of the results being primordial for the good progress of the consortium and subsequently the good exploitation of the results, the contract must take into account the considerations of each party to be solid. A good contract will mean a good understanding and will avoid possible future conflicts.
At YesMyPatent, we are committed to supporting our clients in their projects. We are at your disposal to advise you on your consortium contract.