Subsidy Agreement (Genie AI)

The Subsidy Agreement (Genie AI) is a legal template that outlines the terms and conditions between two parties pertaining to financial support provided by one party (the subsidizer) to another party (the beneficiary) for the development, implementation, or maintenance of artificial intelligence (AI) technology known as "Genie AI." This agreement contains provisions regarding the scope and purpose of the subsidy, the eligible expenses or activities covered by the subsidy, the payment terms, duration, and termination, intellectual property rights, confidentiality obligations, and dispute resolution mechanisms. The template seeks to establish a mutually beneficial and legally binding arrangement that enables the subsidizer to support and promote the development and utilization of Genie AI while safeguarding the interests of both parties.