A research and development contract is a contract which is made when a company hires an employee to handle the research and development of a product or multiple products. Sometimes the research and development can also be done for a business or some other entity.
Sample research and development contract:
This research and development contract is entered into as of the date: 4th July, 2011.
This contract is made for the research and development of a drug by the name of Gregorin. This drug shall be helpful in treating TB if successfully developed and created.
The contract is entered into two parties with the following details:
Name: Mr. Jacob Brown
Mr Jacob Brown is the owner of the laboratory by the name of Brown Labs in London
Address of lab: RF-90, felling street, London
Name: Mr. Peter Jones
Address: 23-p, second floor, States tower, London
Mr. Peter Jones is a recognised Pharmacy Scientist and agrees to work for the research and development of the drug with a group of 5 other scientists.
2’nd Party shall be paid an amount of $1000 each month till the period of the contract.
This amount shall be paid at the 1’St Wednesday of each month.
Terms and conditions:
- 1’st Party must not interfere in the work of the 2’Nd party but is entitled to do investigation of the progress made.
- The 2’nd party must carry on the work according to the set of rules of the lab and of the state.
The contract shall be in effect till 4’Th December, 2011
Jacob Brown Peter Jones