What is a Letter of Agreement?
A letter of agreement is a formal written document that outlines the terms and conditions of a business arrangement or contract between two or more parties. It serves as a written record of the agreement reached between the parties and helps ensure that all parties are clear on the terms the arrangement.
The contents of a letter of agreement typically include details such as the scope of work or services to be provided, responsibilities of each party, payment terms, deadlines, and any other relevant terms and conditions. By documenting these details in writing, a letter of agreement helps prevent misunderstandings and disputes that may arise in the future.
Letters of agreement are commonly used in various business transactions, such as partnerships, collaborations, services agreements, and more. They are often used when a full contract is not necessary or practical, but a written record of the agreement is still needed for clarity and legal purposes.
Overall, a letter of agreement is a valuable tool for formalizing business arrangements and ensuring that all parties are in agreement on the terms of the agreement. It helps protect the interests of all parties involved and provides a solid foundation for a successful business relationship.
A Free Letter of Agreement
You can find more free letters of agreement in our high quality business letter making software, Business Letter Professional.
Employee Invention Agreement
FOR GOOD CONSIDERATION, and in consideration of theundersigned being employed by_ (Company); the undersignedhereby agrees, acknowledges and represents:
1. The undersigned, during the course of employment, shallpromptly disclose in writing to the company allinventions, discoveries, improvements, developmentsand innovations whether patentable or not, conceivedin whole or in part by the undersigned or throughassistance of the undersigned, and whether conceivedor developed during working hours or not, which:
a) Result from any work performed on behalf ofCompany, or pursuant to a suggested researchproject by the Company, or
b) Relate in any manner to the existing or contemplatedbusiness of the Company, or
c) Result from the use of the Company's time, material,employees or facilities.
2. The undersigned hereby assigns to the Company, itssuccessors and assigns, all right, title and interestto said inventions.
3. The undersigned shall, at the Company's request,execute specific assignments to any such invention andexecute, acknowledge, and deliver any additionaldocuments required to obtain letters patent in anyjurisdiction and shall, at the Company's request andexpense, assist in the defense and prosecution of saidletters patent as may be required by Company. Thisprovision shall survive termination of employ with theCompany.
Signed under seal this _ day of _, 20_.
________________________________Employee