R&D, or most commonly known as “Research and Development”, is vital to invest for the growth and success of an organization, according to Investopedia.com. Specifically, it is a process that’s conducted for the sole purpose of determining what various actions to consider that will benefit an organization. But, before any research budget will be planned out, or before printing research materials, an agreement must be created first. In particular, a research and development agreement form where everyone involved will be signing is the type of agreement that you need. What is it? Well, read on to know more!
FREE 10+ Research and Development Agreement Samples & Templates
1. Cooperative Research and Development Agreement
2. Collaborative Research & Development Agreement
3. Sample Collaborative Research & Development Agreement
4. Army Research and Development Agreement
5. Joint Research & Development Agreement
6. Sample Cooperative Research & Development Agreement
7. Formal Cooperative Research and Development Agreement
8. Research and Development Agreement
9. Materials Research and Development Agreement
10. Electrical Research and Development Agreement
11. Research and Technology Development Agreement
How to Establish a Research and Development Agreement Easily
According to the University of Arizona Research Gateway, the contracting process consist of 5 steps: the selection, data collection, negotiator identification, review process, and contract signing. These steps are essential to follow, even when establishing an agreement. So, keep them in mind, along with the following tips below in order for you to easily create a research and development agreement for your business or organization:
1. Forget the Jargon; Use Layman’s Terms or Plain English
Yes, the parties of the agreement may be individuals who are adept in the research field, but are they all knowledgeable in the area of law, and do they know all legalistic terms? Well, you may not know for sure. Therefore, your best choice is to avoid using jargon and instead use layman’s terms or plain English in the research and development agreement. Doing this will promote understanding between everyone involved, and therefore will make discussions of roles and responsibilities easier.
2. Be Accurate with the Parties Involved
The details of the parties involved in the agreement must be clear and accurate. It should also include the descriptions of their roles. This is to ensure that everyone knows of their own position and responsibility as the agreement gets established.
3. Specify the Termination of the Agreement
There are many instances or circumstances when an agreed and signed contract agreement gets terminated. And the most common is when one party breaches one of the terms and conditions or fails to meet his obligations. But regardless of the variety, all circumstances and causes for termination should be properly specified in the research and development agreement. This informs all parties and, therefore, makes them aware of what they should be vigilant of, to ensure that the agreement and its terms will be observed thoroughly.
4. State the Budget of the Research and Development Project
Budget planning for research projects can be another tough road to take, especially since there are lots of different steps and procedures, and tools, to prepare. So, make sure that the summary or the expected amount for the research budget proposal to begin the research and development, as well as the contributions necessary to be given by the involved parties, are stated in the agreement. Other than that, there should also be the details of the chosen payment method and how the budget will be handled.
5. Read and Review the Contents
Before you head on to printing out and signing the research and development agreement, you should first read and review its contents. Even if you are the one who made the entire document, it’s still essential that you proofread it, so you can avoid and correct any mistakes in its terms.
What is a research and development agreement?
A research and development agreement is a type of contract agreement that binds the involved parties of a research and development project. This can be used to state terms for collaborative research agreements and even for putting the price of a research project into writing to inform all parties involved.
Is a research and development agreement a legal contract?
Yes, a research and development agreement is a legal contract, specifically protecting the intellectual properties, discussions, and all procedures involving in the research project. Aside from that, it also serves as a non-disclosure agreement, so to mandate that only the involved parties can use the information they gathered in the research.
Is a collaborative research and development agreement the same to a joint collaborative research and development agreement?
No, the two terms are not similar, nor used interchangeably, but they are connected. In particular, a joint collaborative research and development agreement is a type of collaborative agreement. It is mainly for those who want to agree on providing joint efforts between two parties for a research project. On the one hand, a collaborative research and development agreement is the general document to use if there are a lot of parties involved, and all of them are expected to contribute to the research.
When drafting and establishing a research and development agreement, you, as part of the project team and party of the agreement, should ensure that you have included all the necessities for the success of the project. And also, never underestimate the importance of negotiation and brainstorming with all the involved parties. By doing this, you’ll be able to get a better view and perception of how you can make an effective agreement form, as well as how you can create a sustainable and attainable research plan to meet your research and development goals in your organization or in your business company.
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