None of the five Research Collaboration Agreements deals with the joint ownership of IP because this occurs more rarely than people think and it is more difficult for both the Sponsor and the University to manage. The Research Collaboration Agreements adopt the simpler approach that one or other of the parties will own the IP, but the result of negotiations may be that the University owns the IP in Result "A" and the Sponsor owns the IP in Result "B".
Consortium Agreement A contains an example of a joint ownership provision in clause 5.4.
The members of the Lambert Working Group recommend that you avoid joint ownership where possible. If it is important that more than one party owns some IP, a better way forward may be to consider whether some of the IP should be owned by one party, other IP by another party and so on, rather than having several or all of the organisations participating in the project having a joint interest in the ownership of the IP.If you do decide to have joint ownership it is important that the Agreement sets out what rights each joint owner has to exploit the IP. For an example of this please see clause 5.7 in Consortium Agreement A.