Cooperation Agreement
A cooperation agreement can happen between several types of entities. It could be that two individuals need a cooperation agreement, or it may be that a cooperation agreement between two countries is needed.
What is a cooperation agreement?
In short, a cooperation agreement is a contract between two parties who want to enter into a working relationship together. As a result, a partnership and cooperation agreement will often go hand in hand with one another. The contract will outline the intentions and goals as well as the conditions of the future working partnership.
Importantly, it will also address the formation or establishment of the cooperative venture. It also outlines how much each person in the cooperation agreement owns of a business arrangement and therefore the amount of the profits they can be distributed.
Other essential clauses will identify the obligations of the parties involved like required insurance, how to deal with commercial information and what duties each party has.
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