A Project Consortium Agreement is a legally binding document that describes the terms and conditions governing the collaboration between multiple parties, typically organizations or companies, to jointly undertake a specific project or venture.
As a framework, the Agreement explains the type and method of cooperation, coordination, and decision-making among the consortium members. It defines each party’s rights, responsibilities, and obligations related to the project and provides mechanisms for resolving disputes, allocating resources, managing intellectual property, and ensuring compliance with applicable laws and regulations.
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