Research and Development Agreement

This Research and Development Agreement is between a company and a contractor who will perform research and development services. In this instance the contractor may have particular expertise or equipment that make it better suited to perform the project while the first company may have certain knowledge or market position that is an important component of such research. This agreement sets out the specific terms of the arrangement including the specific services to be provided, the know-how and data which engaging company will provide to contractor and reports and audits contractor will provide to the engaging company. It also sets out the payment arrangements in connection with the services and the ownership of intellectual property rights. (continued ...)