A Technology cooperation agreement is an agreement signed between two parties for sharing the technology used in either of the companies. The agreement objective is to set up collaboration between both the parties for economic and social development through technology sharing. The agreement is signed in the areas of mutual interest for mutual benefit of both the parties. The agreement defines the mode of cooperation, reciprocal participation, shared use of facilities, meeting schedules, technical as well as other mutual support extended .The agreement also details the important strategic agendas, mutual access details, training programs involved,exchange of information, etc
Both the parties agree upon few other important decisions, financial terms and conditions, resources involved from both the sides, dispute mitigation etc. The agreement also includes some important details such as name and addresses of the parties, date and duration of the agreement, dissemination and use of information, agreement termination clauses. The agreement has to be duly signed by both the parties in accordance to the agreed terms and conditions.
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