Remember those dreaded group projects in school? Where all the work fell on one poor soul (probably you) who had to bust out the work of four to six members? Oh, those were the days. But in all reality, it was eye-opening and I am sure you have learned your lesson. When co-creating with others, a Collaboration Agreement is the perfect way to detail everyone’s exact role to avoid the dreaded group work scenario!
This is for you if you have dreamed up a fun project with a friend that you both cannot wait to put out into the world. Your skills are the perfect complement, but you want more than the outline you wrote on the coffee shop napkin. By precisely laying out the responsibility of all the parties involved (including you), you’ll be able to avoid confusion, maintain the friendship, stay on budget, and get to the beautiful destination you’ve been dreaming of as a united force!
3 Easy Steps to be Legally Aligned:
- Access your legal vault, the home of your contract template purchase (plus any of its updates).
- Watch the video tutorial and fill out your contract template in minutes, while gaining the understanding of what it all means. Because with knowledge comes confidence.
- Use the step-by-step checklist in our implementation guide. You’ll never have to wonder if you filled out the contract template correctly or second guess what’s next as you implement the contract seamlessly into your business.
Stay in the know. Whenever there are updates to a contract template you have purchased, you will get an email and have instant access via your legal vault.
- Describe the details of the collaboration, what everyone will bring to the table.
- Talk all the numbers, profits (maybe losses) and budget.
- Make sure that any member of the collaboration has the right to audit any of the records, just in case.
- Layout a marketing plan + timeline, so you know the game plan and your commitment.
- Define who has rights to the intellectual property, so it is clear how everyone can use the products of the hard work during + after the collaboration.
- Confidentiality so you can share openly and honestly with each other.