Cooperation Agreements and Joint Ventures
Showing 1-5 of 5 legal articles
Structure and Legal Nature of Cooperation Agreements
Cooperation agreements are not specifically defined in the legislation and, therefore, there is no clear framework for determining which contracts may constitute cooperation agreements. Cooperation agreements are so-called hybrid agreements. When concluding the agreement, the main issue is to define what is being agreed, and what the objective of the agreement is.Parties of a Cooperation Agreement and the Binding Nature of the Agreement
In a cooperation agreement, the other party is generally another company. One of the parties may also be, for example, a university, a polytechnic, a research institute or a development center. The parties to a cooperation agreement are usually on an equal footing, and the parties’ respective obligations are similar. On the other hand, it is also possible for one of the parties to act as a coordinator only, leaving the other parties to carry out all practical obligations. All such matters should be clearly set out in the agreement.Joint Ventures in General
Several reasons may exist for setting up a joint venture. For instance, ajoint venture may be used to facilitate access to new markets, or to achieve a stronger financial position.Establishment of and Operation in a Joint Venture
A joint venture is established through an agreement of the parties. The agreement should, at a minimum, include provisions regarding the organization and purpose of the joint venture.Cooperation Agreements in General
In cooperation agreements, companies agree upon joint activities in order to achieve a common goal. The objective of a cooperation agreement may be, for example, a joint project between two or more companies.
Showing 1-5 of 5 legal articles
Structure and Legal Nature of Cooperation Agreements
Cooperation agreements are not specifically defined in the legislation and, therefore, there is no clear framework for determining which contracts may constitute cooperation agreements. Cooperation agreements are so-called hybrid agreements. When concluding the agreement, the main issue is to define what is being agreed, and what the objective of the agreement is.Parties of a Cooperation Agreement and the Binding Nature of the Agreement
In a cooperation agreement, the other party is generally another company. One of the parties may also be, for example, a university, a polytechnic, a research institute or a development center. The parties to a cooperation agreement are usually on an equal footing, and the parties’ respective obligations are similar. On the other hand, it is also possible for one of the parties to act as a coordinator only, leaving the other parties to carry out all practical obligations. All such matters should be clearly set out in the agreement.Joint Ventures in General
Several reasons may exist for setting up a joint venture. For instance, ajoint venture may be used to facilitate access to new markets, or to achieve a stronger financial position.Establishment of and Operation in a Joint Venture
A joint venture is established through an agreement of the parties. The agreement should, at a minimum, include provisions regarding the organization and purpose of the joint venture.Cooperation Agreements in General
In cooperation agreements, companies agree upon joint activities in order to achieve a common goal. The objective of a cooperation agreement may be, for example, a joint project between two or more companies.