This Joint Venture Agreement (the “Agreement”) is entered into on [Date], by and between:
Party A: Applied Technology Research Center, a company organized and existing under the laws of [Country], with its principal office located at [Address] (“Development Company”),
and
Party B: [Joint Venture Partner Name], a company organized and existing under the laws of [Country], with its principal office located at [Address] (“Joint Venture Partner”).
Collectively referred to as the “Parties.”
WHEREAS, the Development Company has expertise in software development;
WHEREAS, the Joint Venture Partner has market knowledge and access to customers in Pakistan in the grain and rice export, milling, and trading industry;
WHEREAS, the Parties desire to form a joint venture for the development and sale of a software solution to manage the business operations for grain and rice exporters, millers, and traders;
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Parties agree as follows:
The purpose of this Joint Venture is to develop and sell a software solution and related services designed for the management of business operations for grain and rice exporters, millers, and traders.
2.1 Development Company Responsibilities:
The Development Company shall be responsible for the global development, enhancement, and maintenance of the software.
2.2 Joint Venture Partner Responsibilities:
The Joint Venture Partner shall be responsible for sales, marketing, and customer support in Pakistan.
3.1 The Parties agree to share the revenues generated from the sale of the software and services as follows:
All intellectual property developed during the term of this Joint Venture shall be jointly owned by the Parties.
This Joint Venture shall commence on [Effective Date] and shall continue until terminated by mutual agreement of the Parties or by written notice from either Party with [Number] days' notice.
The Parties agree to maintain the confidentiality of all proprietary information related to the Joint Venture.
This Agreement shall be governed by and construed in accordance with the laws of [Country].
IN WITNESS WHEREOF, the Parties hereto have executed this Joint Venture Agreement as of the Effective Date first above written.
Applied Technology Research Center
By: [Authorized Signatory] [Name] [Title] [Date] [Joint Venture Partner Name] By: [Authorized Signatory] [Name] [Title] [Date]