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Types of Agreement
- Many types of legal agreements exist.handshake image by Peter Baxter from Fotolia.com
Depending upon the situation, a legal agreement can mean many things. It can involve the exchange of a good or service for money, a loan or gift of money or resources, or an agreement involving the personal behavior of one or both of the parties involved. - A nondislosure agreement (NDA) is an agreement between two parties to protect the confidentiality of something, such as an invention or discovery. These are also known as confidentiality agreements.
- License agreements are written up in order to establish the parameters under which one party can use the intellectual property of another.
- Materials transfer agreements (MTAs) come into use when two parties use the same materials for research or some other use. Usually, this will involve the exchange of biological materials between two universities. Sometimes, these will be called biological materials transfer agreements.
- A grant is one of the most common forms of agreement. One party usually submits a proposal to another party, who is the one who gives out the grant; the party giving the grant, usually a foundation or charitable organization, provides a certain amount of money for the project described in the proposal. Grants are open-ended, with open parameters as to how the grant money may be used.
- A contract is much more specific than a grant. When two parties sign a contract, there is almost always a specific result or results which the parties have agreed to. The terms and conditions of a contract are extremely strict, as are the ways in which the funds are managed.
- A cooperative agreement is usually very similar to a grant in that one organization will provide support to another. The difference between the two is that in a cooperative agreement, the funding agency is usually much more heavily involved in the project.
- Subawards or subcontracts refer to certain sections of a larger award or contract. They allocate a certain amount of money from the larger contract to another party or organization, which will perform an action linked to the larger contract.
- A teaming agreement is an agreement in which two parties agree to collaborate is coming up with a proposal in response to a particular solicitation.
- A consulting agreement involves a third party being brought in on a project in order to provide expert advice on an aspect of the project.
Nondisclosure Agreement
License Agreements
Materials Transfer Agreements
Grants
Contracts
Cooperative Agreements
Subawards and Subcontracts
Teaming Agreements
Consulting Agreements
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