Predevelopment Agreement (Genie AI)

The Predevelopment Agreement (Genie AI) is a legal document that outlines the terms and conditions between two parties engaging in a predevelopment process using artificial intelligence technology provided by Genie AI. This template covers the initial stages of a project, where both parties agree to collaborate and undertake various tasks, such as feasibility studies, market analysis, software development, and prototyping, to evaluate the viability of a potential larger-scale development project. The agreement may define the scope of work, timeline, payment terms, ownership rights of intellectual property, confidentiality obligations, liability limitations, and dispute resolution mechanisms. It serves as a binding contract to protect the interests of both parties and ensure a clear understanding of their roles and responsibilities in the predevelopment phase facilitated by the utilization of Genie AI technology.