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An Internship Agreement is a legally binding contract between a company and an intern who is hired as an independent contractor on a full-time, part-time, or hourly basis. This agreement is for an unpaid internship where the intern is not entitled to any remuneration or employee benefits. The key terms and conditions of the internship agreement are the period of the internship, primary place of work, confidentiality obligation, and the intern's responsibilities.
The agreement establishes that the internship does not guarantee future employment with the company. The intern assumes all the risks of participating in the internship program. By signing the agreement, the intern agrees to provide the company with any intellectual property that they may create during their employment, and they also agree not to solicit any of the company's customers or clients for up to three months upon the discharge of the agreement. The agreement can be terminated by either party by giving seven days' prior notice or payment in lieu.
1. Provide contact information: Before you begin, provide the necessary contact information for both parties, including names, addresses, phone numbers, and email addresses. This information will be used throughout the agreement.
2. Define the position: Clearly state the intern's position with the company, including the department they'll be working in and who they'll be reporting to. Specify the commencement and end dates of the internship, emphasising that there is no guarantee of future employment.
3. Outline the work schedule: Detail the intern's primary place of work and working hours, including whether overtime may be necessary.
4. Explain payment and benefits: If the internship is paid, specify the remuneration, including wage and basic monthly salary, and whether or not overtime pay will be provided. Also, outline any benefits that the intern may be entitled to.
5. Confidentiality and intellectual property: Establish the company's expectation that the intern will keep all business secrets confidential, including information regarding the company's customers, finances, research, development, or any other technical or business information. State that any intellectual property created during the internship will be the company's property.
6. Termination: Outline the process for terminating the agreement and the grounds for immediate termination.
7. Sign and return: Finally, provide space for the intern and the company to sign and date the agreement, indicating their understanding and acceptance of the terms and conditions. Also, state that the intern must sign and return a duplicate copy of the agreement to the human resources department within seven days.
In summary, an Internship Agreement is an important document that outlines the terms and conditions of an internship. It's critical to define the position, work schedule, payment, benefits, confidentiality, intellectual property, termination, and return the signed agreement to the human resources department. By following these steps, you can create an Internship Agreement that protects both parties' interests and ensures a successful internship experience.