The IPU agreement must be approved by the dean and chair of the department that houses the institution and signed by the Associate Vice President for Research and Funding Programs. The MTA is a binding agreement that defines intellectual property rights and ownership of traded material. The MTA is also used to inform the university`s compliance offices of any regulatory standards that may need to be implemented. Each party wishes to protect all information it provides to other parties that contain confidential or commercially sensitive content and, therefore, the obligation not to disclose and protect that information should be included in the agreement. The agreement should clearly state the extent to which the parties can use this type of information, set limits on the use of commercial and customer and contact information (this may be intended exclusively for the project, but may be broader if the parties consent). The agreement should also specify whether the parties to the agreement can engage in activities that may be concurrent or similar to the project. One of the points is that all restrictive provisions must be carefully developed to ensure that they comply with EU and English competition rules; The termination provisions in a joint contract enterprise are probably one of the most important conditions of the contract. Each party should think carefully about what happens if the project fails, gets bogged down or fails, and what it means for them and their investments. The parties may wish to terminate the agreement before the project is completed or involve all parties in a “lock-in” period during which they must commit to a certain amount of time (and possibly an investment) in the project before they can decide to terminate the project. There may be termination provisions if a project brick is not reached or when the other parties violate a substantial obligation of the agreement and, as a general rule, any commercial agreement allows one party to terminate the contract if the other party becomes insolvent.
The list of reasons for the parties to denounce the cooperation agreement or project varies depending on the project, but it can always be useful to think about what happens if the parties fail to agree and reach a deadlock situation with the decision-making and whether this could lead to , if not resolved, to a right of termination.