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Proof Of Concept Agreement

Proof Of Concept Agreement Template for New Zealand

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Key Requirements PROMPT example:

Proof Of Concept Agreement

"I need a Proof of Concept Agreement for testing our new AI-powered financial software with a major bank in New Zealand, starting March 2025, with strict data privacy provisions and clear success metrics for processing speed and accuracy."

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Document background
The Proof of Concept Agreement is essential when organizations want to test new technologies, solutions, or services before committing to full implementation. This document type is particularly relevant in New Zealand's growing technology and innovation sector, where businesses need to validate solutions while protecting their interests. The agreement covers critical aspects such as testing parameters, success criteria, intellectual property rights, data protection, and confidentiality obligations. It ensures compliance with New Zealand's legal framework, including the Contract and Commercial Law Act 2017, Privacy Act 2020, and relevant intellectual property legislation. The document is structured to provide clarity on the scope of testing, resource commitments, timelines, and evaluation criteria, while also addressing potential risks and liabilities during the PoC phase.
Suggested Sections

1. Parties: Identifies and defines the parties entering into the agreement

2. Background: Explains the context and purpose of the PoC, including what solution or technology is being tested

3. Definitions: Defines key terms used throughout the agreement

4. Scope of Proof of Concept: Detailed description of what the PoC will entail, including objectives and success criteria

5. Duration and Timeline: Specifies the start date, end date, and key milestones of the PoC

6. Responsibilities of the Parties: Outlines what each party must do to support the PoC

7. Costs and Payment Terms: Specifies any costs associated with the PoC and payment arrangements

8. Intellectual Property Rights: Addresses ownership and usage rights of existing and newly created IP during the PoC

9. Confidentiality: Protects confidential information shared during the PoC

10. Data Protection and Privacy: Addresses handling of personal and sensitive data during the PoC

11. Termination: Specifies how and when the agreement can be terminated

12. General Provisions: Standard legal provisions including governing law, notices, and entire agreement

Optional Sections

1. Commercial Terms for Full Implementation: Include when there's a potential for full commercial implementation after successful PoC

2. Third Party Rights: Include when the PoC involves third-party technology or services

3. Resource Commitment: Include when specific personnel or resources need to be committed by either party

4. Testing Environment Requirements: Include when the PoC requires specific technical or physical environment setup

5. Security Requirements: Include when the PoC involves sensitive systems or data

6. Acceptance Testing: Include when formal acceptance criteria and testing procedures are required

7. Insurance and Liability: Include when the PoC involves significant risks or potential damages

8. Post-PoC Options: Include when parties want to pre-agree options for proceeding after the PoC

Suggested Schedules

1. Schedule 1 - PoC Technical Specifications: Detailed technical requirements and specifications for the PoC

2. Schedule 2 - Success Criteria and Metrics: Specific measurable criteria for evaluating the PoC's success

3. Schedule 3 - Timeline and Milestones: Detailed project plan with specific dates and deliverables

4. Schedule 4 - Resource Allocation: Detailed breakdown of personnel, equipment, and resources committed by each party

5. Schedule 5 - Cost Breakdown: Itemized breakdown of all costs associated with the PoC

6. Appendix A - Testing Procedures: Detailed testing methodology and procedures

7. Appendix B - Security and Compliance Requirements: Specific security protocols and compliance requirements

8. Appendix C - Contact Details: Key contact information for both parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


































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Relevant Industries

Information Technology

Software Development

Healthcare Technology

Financial Services

Manufacturing

Telecommunications

Research and Development

Artificial Intelligence

Internet of Things

Biotechnology

Clean Energy

Digital Media

E-commerce

Educational Technology

Relevant Teams

Legal

Information Technology

Research and Development

Innovation

Procurement

Product Development

Commercial

Solutions Architecture

Project Management

Risk and Compliance

Technical Operations

Business Development

Relevant Roles

Chief Technology Officer

Innovation Manager

Project Manager

Legal Counsel

Procurement Manager

Technical Director

Research and Development Director

Solutions Architect

Product Manager

Commercial Manager

Chief Information Officer

Head of Digital Transformation

Technology Implementation Manager

Business Development Manager

Contracts Manager

Chief Innovation Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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