At Burgeon Law, we identify different kinds of business agreements that your business requires to execute with multiple stakeholders e.g. services agreements, sales agreements, leasing agreements, product manufacturing, distribution agreements, licensing agreements, etc. and we help our clients in drafting, negotiation, execution of such contracts. Also, we provide services to review contracts they are presented to our clients from third parties.
A commercial contract refers to a legally binding agreement wherein rights, obligations, responsibilities, roles and terms binding the relationship of the parties are defined obligating the parties to do or not to do certain things. Commercial contracts are executed between various stakeholders of the business including vendors, suppliers, lenders, service providers, customers and collaborators etc. Breach of commercial contract implies that a contracting party has failed to fulfil the obligations set out in the agreement.
Some of the important commercial contracts include the following:-
- Service Agreements:A contract wherein one party agrees to provide a service and the other party pays a consideration for the service on the terms and conditions specified in the agreement.
- Partnership agreement:A partnership agreement spells out the relationship, duties, powers and obligations of the partners, capital contributions to the partnership, nature of business and procedure to be followed for dissolution of partnership, admission/removal of a partner from the partnership.
- Non-disclosure agreement: Non-disclosure agreements legally bind a vendor, supplier, service provider, independent contractor, or employee not to share proprietary or confidential information about the business with any third party.
- Lease Agreement: A contract between a Lessor and lessee that allows the lessee rights to the use of a property owned or managed by the Lessor for a period of time. The agreement does not provide ownership rights to the lessee; however, the Lessor may grant certain allowances to modify change or adapt the property to suit the needs of the lessee.
- Loan Agreement:A loan agreement is a contract between a borrower and a lender which regulates the terms of loan including interest repayment, term of loan etc.
- Security agreement:A security agreement pledges an asset or piece of property as collateral to secure a loan. In the event of a default, the asset is forfeited to the lender.
- Distribution Agreement: A distribution agreement is a legal agreement between a supplier of goods and a distributor of goods. The supplier may be a manufacturer, or may itself be a distributor reselling another’s goods.
- Licensing Agreement: A licensing agreementis a legal contract between two parties, known as the licensor and the licensee. In a typical licensing agreement, the licensor grants the licensee the right to produce and sell goods, apply a brand name or trademark, or use patented technology owned by the licensor.
- SAAS Agreement: Software as a service (SAAS) is the agreement wherein technology companies provide rights, limited or otherwise to the second party to use or employ the software of the company for consideration.
- Consultant Agreement: The consultant agreement is made between the company and consultant. It outlines the scope of work to be performed by them and other terms and conditions including compensation in cash or equity related to their engagement with the company.
Burgeon Law has an extensive experience in drafting and vetting of hundreds of different types of commercial contracts and representation and negotiation on behalf of our clients before the second party. We ensure that interest of the client is duly represented and protected in a contract foreseeing and reducing the risk of future conflicts in any contract.