In my field written agreement is a very important aspect of our work. When we share research outside of the company we have to come up with agreement documents to outline what information is to be shared or not, who owns the rights to the research that comes from the agreements, and how that information can be distributed within each company and who is able to access that information. It all needs to be outlined in these agreement documents and can at times take months to prepare cause of all the litigation and other things that the entire legal team needs to agree to before us as researchers are able to collaborate with other institutions.
Hi kbs27,
In my past, I once had a verbal contract go bad, leading to a messy lawsuit because key details weren’t documented. I wont get into the details too much but I was not paid for work that I did for a startup company. I will say this, while verbal agreements can be legally binding, their lack of written proof makes disputes hard to resolve. Oral and verbal agreements are the same, but be careful in relying on them. It is much better and safer to have a written agreement because they are crucial as they clearly define terms, protect all parties, and minimize misunderstandings. From my experience, always get agreements in writing, no matter how trustworthy the other party seems.
The obvious reason for choosing a written contract over a verbal one is that verbal contracts are more challenging to defend or enforce in court, but another key advantage of written contracts is setting clear expectations. It is a long proven fact that memories people hold change over time, and if a contract is verbal, certain parts of the agreement can easily be forgotten or misremembered by one or both parties. With a written contract, every part of the agreement is written in detailed, specific language to ensure that both parties know what they are signing and it can be referred back to in the event of a disagreement.
The main difference between a verbal agreement and a written agreement is that, with a verbal agreement, the parties may forget aspects of it and have nowhere to refer to all its terms. In a written agreement, the parties have documents to refer to the terms. Also, in a verbal agreement, only the parties' word is given, so they may not follow through on what was agreed. With a written agreement, the parties’ signatures are required, making it more legally binding.
Verbal agreements can be legal, but they are not very reliable because nothing is written down. If a disagreement happens later, it becomes hard to prove what each person said or promised. Verbal and oral agreements mean the same thing, since both are based on spoken communication. It’s usually not a good idea to start a project based only on a verbal agreement, especially in consulting or medical-device work. Written agreements are important because they clearly show the terms, deadlines, and responsibilities for both sides. Having everything in writing helps avoid problems and protects everyone involved.
A verbal agreement could technically be an oral agreement or a written agreement, so in terms of the difference between the two there is virtually none as an oral agreement is a type of verbal agreement. If we are speaking about Written vs Oral agreements, the most obvious difference is the fact that one is spoken and one is written. Another major difference is the ease of using a oral contract vs a written contract in court. For one, proving the existence of the oral contract can prove to be quite difficult as there may not be any proof of the existence of this contract. This shows obvious benefits to using a written agreement, especially in medical device development! Both of these agreements are legally binding, but because it is harder to prove the verbal agreements existence, it is certainly a more risky option. That said, it is likely a very bad idea to start working on a project based solely on verbal agreement, and it is advisable to have a written contract in place. If we are speaking from the medical device industry, verbal contracts would also not be permissible as documentation is mandatory and written agreements must be established to meet regulatory guidelines. Written agreements show their importance by providing clarity of project terms, establishes risks and liability clauses, and protects the intellectual property of medical device developers. It is essential in the medical device industry to use written agreements, and in general, oral agreements should be avoided. What clauses do you believe are essential to include in a written medical device development contract?
A written contract provides documented and clear evidence that can be utilized in court. An oral contract relies on additional proof which can be a lot harder to establish. If there is any possibility that the agreement might lead to legal disputes, then it is safer to have the terms in a written document. If the situation isn't too risky and legal protection is not a huge concern then an oral agreement might be acceptable
A verbal/oral agreement is essentially the same thing, both mean an agreement made through spoken communication. Verbal agreements can be legally binding, but the biggest problem is proving what was actually said if a dispute comes up. That’s why relying only on a verbal agreement can be risky, especially for projects involving time, money, or shared responsibility. A written agreement provides clarity, protects both sides, and avoids misunderstandings. It lays out expectations, timelines, and deliverables so everyone is on the same page. For any project or collaboration, it’s always safer and more professional to have things documented.
