Legal Contract
This Product Creation Agreement ("Agreement") is entered into on October 15, 2055, by and between [YOUR COMPANY NAME], with a principal place of business at [YOUR COMPANY ADDRESS] ("Company"), and Innovative Designs LLC, with a principal place of business at 456 Creative Avenue, Suite 300, San Francisco, CA 94105 ("Creator"). The Company and Creator may be referred to individually as a "Party" or collectively as "Parties."
1. SCOPE OF WORK
Creator agrees to create the product(s) as detailed in Exhibit A ("Product") according to the specifications and timeline provided by [YOUR COMPANY NAME].
2. PAYMENT TERMS
[YOUR COMPANY NAME] agrees to pay Creator a total of $50,000 for the completion of the Product as outlined in this Agreement. Payment will be made upon delivery and acceptance of the Product, unless otherwise specified in Exhibit B.
3. INTELLECTUAL PROPERTY
Upon completion and full payment, all intellectual property rights, including but not limited to copyrights, trademarks, and patents related to the Product, shall transfer to [YOUR COMPANY NAME]. Creator waives all moral rights to the Product.
4. CONFIDENTIALITY
Creator agrees to keep all information related to this Agreement and [YOUR COMPANY NAME]’s business confidential and not to disclose such information to any third party without prior written consent.
5. WARRANTIES
Creator warrants that the Product will be original, free from infringement on any third-party rights, and will comply with the specifications provided by [YOUR COMPANY NAME].
6. TERMINATION
Either Party may terminate this Agreement by providing 30 days' written notice to the other Party. In the event of termination, Creator shall be paid for all work completed up to the termination date.
7. INDEMNIFICATION
Creator agrees to indemnify and hold harmless [YOUR COMPANY NAME] from any claims, damages, or liabilities arising from Creator's breach of this Agreement or the infringement of any third-party intellectual property rights.
8. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of California.
9. ENTIRE AGREEMENT
This Agreement constitutes the entire understanding between the Parties and supersedes all prior agreements or understandings regarding the subject matter.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first written above.
[YOUR NAME]
[YOUR COMPANY NAME]
Samantha Taylor
Innovative Designs LLC
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