Use our product development agreement template to create a contract that lays out the legal terms and compensation schedule for your product development project.
What to Know Before Using our Product Development Agreement Template
A product development agreement is key to any business relationship. This agreement allows a company to hire an outside business or contractor to create something for them. For example, if you are looking to have someone create software for your business, you will want to create a product development contract. The agreement allows you to lay out exactly what you want and when you expect the project to be completed.
By signing this document you ensure that your business has legal protections. These include if the contractor or business you hired fails to complete the job. This is especially important if you were to ever need to take either of the entities to court for compensatory damages.
Furthermore, you will want to be upfront about pricing, the scope of work, and overall expectations. These discussions will help ensure that the communication between both parties is satisfactory so as to avoid future confrontation.
Our document has specific sections geared towards these issues. We wanted to make this portion of the product development process as quick and easy as possible.