Terms and Conditions for Collaboration with US

1. Introduction

These Terms and Conditions (“Agreement”) govern the collaboration between techdotbit (“Company”) and the collaborating entity (“Partner”). By engaging in any collaborative activities with the Company, the Partner agrees to be bound by the terms outlined in this Agreement.

2. Scope of Collaboration

The collaboration between the Company and the Partner may include, but is not limited to, the following activities:

• Joint development of software solutions.
• Sharing of resources and expertise.
• Co-marketing and promotional activities.
• Research and development initiatives.

3. Responsibilities of the Parties

1 Responsibilities of the Company

• Provide the necessary resources and expertise to support the collaboration.
• Maintain clear and open communication with the Partner.
• Ensure the timely completion of agreed-upon tasks and deliverables.

2 Responsibilities of the Partner

• Contribute the necessary resources and expertise to support the collaboration.
• Maintain clear and open communication with the Company.
• Ensure the timely completion of agreed-upon tasks and deliverables.

4. Confidentiality

Both parties agree to maintain the confidentiality of any proprietary or confidential information shared during the course of the collaboration. This includes, but is not limited to, trade secrets, business plans, and technical data.

5. Intellectual Property

1 Pre-existing Intellectual Property

Each party retains ownership of its pre-existing intellectual property. Nothing in this Agreement shall be construed as transferring any rights or ownership of such pre-existing intellectual property to the other party.

2 Jointly Developed Intellectual Property

Any intellectual property jointly developed during the course of the collaboration shall be owned jointly by both parties, unless otherwise agreed upon in writing.

6. Financial Terms

The financial terms of the collaboration, including any revenue sharing, cost sharing, or payment schedules, shall be agreed upon in a separate written agreement or addendum to this Agreement.

7. Term and Termination

1 Term

This Agreement shall commence on the effective date and shall remain in effect until terminated by either party in accordance with this Agreement.

2 Termination

Either party may terminate this Agreement with thirty (30) days’ written notice to the other party. Upon termination, both parties agree to return any confidential information and cease any use of the other party’s intellectual property.

8. Indemnification

Each party agrees to indemnify and hold harmless the other party from any claims, damages, or losses arising out of or in connection with the collaboration, except to the extent caused by the gross negligence or willful misconduct of the indemnifying party.

9. Limitation of Liability

In no event shall either party be liable to the other for any indirect, incidental, or consequential damages arising out of or in connection with this Agreement, even if advised of the possibility of such damages.

10. Governing Law and Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or in connection with this Agreement shall be resolved through good faith negotiations between the parties. If the parties are unable to resolve the dispute through negotiations, they agree to submit the dispute to binding arbitration in accordance with the rules of the Indian Arbitration and Conciliation Act, 1996.

11. Miscellaneous

1 Entire Agreement

This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.

2 Amendments

Any amendments or modifications to this Agreement must be in writing and signed by both parties.

3 Severability

If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

4 Waiver

No waiver of any provision of this Agreement shall be deemed a waiver of any other provision, nor shall any waiver constitute a continuing waiver.

12. Contact Information

For any questions or concerns regarding this Agreement, please contact:

Sales@techdotbit.com