# Immaterial Contract Agreement
**This Immaterial Contract Agreement** (the "Agreement") is made and entered into as of the ___ day of __________, 20__, by and between:
**Party A**: [Full Name/Company Name]
Address: [Complete Address]
Email: [Email Address]
Phone: [Contact Number]
AND
**Party B**: [Full Name/Company Name]
Address: [Complete Address]
Email: [Email Address]
Phone: [Contact Number]
**Collectively referred to as the "Parties."**
## 1. **Purpose**
The purpose of this Agreement is to outline the understanding and expectations between the Parties regarding [describe the immaterial subject, e.g., intellectual property, creative work, ideas shared, etc.].
## 2. **Scope of Agreement**
The Parties agree to the following terms regarding the immaterial subject:
1. **Rights and Ownership**
- [Define the ownership rights of any immaterial creations or ideas discussed/created under this Agreement].
2. **Confidentiality**
- Each Party agrees to maintain confidentiality regarding any proprietary information or ideas exchanged during the course of this Agreement.
- The confidentiality obligation shall survive the termination of this Agreement.
3. **Non-Compete Clause**
- [Define the scope of the non-compete clause, if applicable, including duration and geographical limits].
## 3. **Duration**
This Agreement shall commence on the date first above written and shall continue in effect until [specify duration or conditions for termination].
## 4. **Compensation**
- Should any remuneration be associated with this Agreement, the compensation terms shall be as follows:
[Specify compensation details, if applicable].
## 5. **Dispute Resolution**
In the event of a dispute arising out of or relating to this Agreement, the Parties agree to resolve the matter through [mediation/arbitration/litigation], in accordance with the laws of [Specify jurisdiction], before any other legal proceedings are initiated.
## 6. **Amendments**
This Agreement may only be amended or modified in writing, signed by both Parties.
## 7. **Severability**
If any provision of this Agreement is found to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that the remaining provisions of the Agreement shall remain in full force and effect.
## 8. **Governing Law**
This Agreement shall be governed by and construed in accordance with the laws of [Specify jurisdiction].
## 9. **Entire Agreement**
This Agreement constitutes the entire understanding between the Parties concerning the subject matter herein and supersedes all prior agreements, negotiations, and understandings, whether written or oral.
## IN WITNESS WHEREOF
The Parties hereto have executed this Immaterial Contract Agreement as of the date first above written.
**Party A**:
_____________________________
[Printed Name]
[Title/Position]
Date: ______________________
**Party B**:
_____________________________
[Printed Name]
[Title/Position]
Date: ______________________
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**Note:** This template is for informational purposes only and should not be construed as legal advice. Parties are strongly advised to seek independent legal counsel before entering into any agreement.