The agreement also defines the percentage of the turnover that each company will achieve from the sale of the products. Some companies enter into this type of agreement to reduce advertising and marketing costs by sharing the costs with another company. Companies need to agree on an area, payment and how disputes are handled. Both parties must sign the agreement. The agreement will formally create the relationship so that they can start promoting a joint venture. All agreements should contain the following elements: a marketing and cooperation agreement is an important document forming the relationship between the parties working together to promote their respective activities. The general and specific arrangements for cooperation between the Parties, including any fees to be paid, may be described by the author of this Decision in such a way as to best reflect the specific situation negotiated by the Parties. A marketing and cooperation agreement is signed by each party. Where a party is an enterprise or other legal person, it is signed by an authorized signatory on behalf of the entity or other entity.
A business collaboration agreement is a contract for two parties of cooperation in a company. It allows them to combine resources and expertise such as skills, technology, IP, products or marketing strategies. Cooperation agreements are used by parties wishing to set up a contractual joint venture.