The Elements of a Profitable Agreement
Business is a collection of relationships; internal relationships among employees and management, as well as external relationships among suppliers and customers.
Important relationships are implemented through agreements which can be of many differing sorts. Especially critical are employees, contractor and confidentiality agreements, licenses, development and maintenance contracts, and distributor and dealer agreements.
Agreements can be pro-active business tools that promote your company’s business objectives and reduce uncertainty. Successful agreements are profitable agreements, and agreements are profitable when they actually implement the party’s business objectives, and eliminate unnecessary risk that may arise in the business relationship. To do this an agreement must clearly express the intent of the parties, the assumptions that underlie the relationship, and provide sufficient structure and direction to promote resolution of differences.
In the modern commercial reality of the “information age”, agreements have become far more critical than ever before. Many relationships involve the conditional transfer of rights intangible properties, with ongoing responsibilities and obligations between the parties concerning continued development, service and cooperative exploitation. The legal system has failed to keep up with technological and commercial advances, which in turn has served to dramatically increase the uncertainty of contract parties’ legally enforceable duties. As a consequence it is imperative that business agreements are clear and provide the structure necessary for enforcement if necessary. It is no longer prudent to allow legal and industry custom to fill in for omissions.
Ascentage Law has the experience and knowledge of business clients, their industries and technologies to actively assist in the design and preparation of business agreements that promote and realized valuable business objectives on a profitable basis. The partners have extensive worldwide experience in the negotiation of critical business agreements, and they can assist companies in effecting their business objectives.
For more information about Ascentage Law’s Licensing and Agreement Services, please contact us via email or at +1-617-475-1603.