For some time now, a friend and I have been working on a game project. As a part of my friends university course, they need to demonstrate working to a brief on a major project (which can either be an internal or external project). After checking with the university, they gave us the green light for my friend to work on our hobby game project as the project for that assessment.
This was fine when it was just my friend, but we now have several other uni students who are now also keen to do work for us on the project (for the same purpose). This obviously brings up concern over intellectual property. If they are providing us with artwork, code and other assets for the project, we would want to potentially use them within the project now and in the future. If we can't, then this whole endeavor provides zero benefit to us.
So the intention is to have them sign a contract that covers the matters of intellectual property and confidentiality of information (etc.) before they could do any work on the project. However, from what I understand, we need some form of 'valuable consideration', or the contract will not be legally binding. Given that these individuals are doing this work voluntarily and for the purpose of assessment, that seems to complicate things a lot, since there will be no monetary remuneration involved.
As I understand it, 'valuable consideration' doesn't have to be monetary. Is us providing a project and platform for them to complete their assessment enough to be considered 'valuable consideration' in this context?