A co- development and license agreement refers to a document which certifies that the involved parties have agreed to develop a business in cooperation with each other and will also co- own/ hold the license to carry on the construction activities. The agreement specifies the terms of the contract. A sample has been provided below.
Sample Co- Development and License Agreement:
The following agreement is being signed between two business organizations i.e.
M/s Hash Developers and M/s Jennings Developers as of January 28th, 2012.
The agreement states that both the parties involved have been given a joint license which permits them to conduct construction activities on a certain location. The parties signing the contract have agreed to work in cooperation and have to complete the development task within the time limit assigned.
Date of starting the work: 1st March 2012
Date of completion of the work: 1st March 2013
Information of Developer 1:
Name of the firm: M/s Hash Developers
Name of signatory: Ms. Karen Soles
Contact No.: 222-35-752
Official Address: Plot no. 6, Victor’s Main, United Kingdom.
Information of Developer 2:
Name of firm: M/s Jennings Developers
Name of Signatory: Ms. Holly Anderson
Contact No.: 365-13-870
Official Address: Plot No. 45, South Henry Region, United Kingdom.
Terms and Conditions:
The developers have to share the profits from the construction in a ratio of 1:1.
The developers have to near the cost in equal proportions.
Both the developers will have to bear losses (if any) in same proportions as profits.
Both the parties are equally responsible for any damages or problems.