Common use of JOINT PROJECTS Clause in Contracts

JOINT PROJECTS. [Comment: An Article of this kind may be appropriate where a joint research or other technical Project is to be undertaken. The provisions will need to be tailored to the circumstances of each Alliance.] 4.1 A particular objective of the Alliance is to identify appropriate Projects for joint research or other collaboration between the Parties, particularly in the field of [specify field]. These Projects will be aimed at developments where the results will be of benefit to both Parties. These Projects may lead, in appropriate cases, to arrangements for joint commercial exploitation. 4.2 Joint research or other Projects to be undertaken by the Alliance will be agreed and directed by the Management Committee who shall: 4.2.1 Establish financial resources for the Project (including any minimum financial commitments of the Parties) and allocate personnel to research Projects approved by the Management Committee including the appointment of a Project Manager to lead a Project team; 4.2.2 Approve specific research plans; and 4.2.3 Develop specific performance targets and periodically review progress. 4.3 After the Management Committee has approved plans for a particular Project, the Project team shall coordinate and implement all day-to-day activities of the Parties. The Project team shall work openly and cooperatively and shall meet periodically, as the Project Manager determines to be necessary, to coordinate their activities. Each party shall, through the Project Manager, periodically submit to the Management Committee progress reports in relation to its activities under each joint research Project. 4.4 A more detailed Project contract shall, where considered appropriate by the Parties, be entered into in relation to a particular joint research or other collaborative Project to be funded by the Parties.