The undersigned (each a “Collaborator” and together the “Collaborators”) are collaborating to develop a business concept and related technology for:
[description of concept/technology]
(the “Technology”), which, if developed, will be transferred to and launched by a start-up company to be formed by the Collaborators (the “Start-Up Company”).
In the event the Collaborators successfully develop the Technology, the Collaborators agree that:
Neither Collaborator is a party to any agreement that restricts a Collaborator’s ability to perform their obligations as set out above and no third party can claim any rights to the Technology.
This Agreement is governed by [jurisdiction] law.
[Signature of Collaborator #1]
[Signature of Collaborator #2]