This agreement allow an Agent to earn commission on sales of the Principal’s goods in a defined geographical area, territory or on exclusive or non-exclusive basis. Commercial Agents Regulations 1993 create certain duties and rights for those defined within the regulations as commercial agents in their respective EU countries. If it is intended that the parties do not have a relationship which falls within those regulations, this document should not be used. The agent acts on the supplier’s behalf. Although an agent may arrange sales, the sales contract will be between the supplier and the end customer, i.e. an end user of the product. This figure is different from the distributor who is, instead, a supplier’s customer. The distributor sells the product to their own customers.
A distribution agreement is an agreement under which a supplier of goods appoints an independent distributor to market them; he sells in his own name and for his own account. The Distributor shall be responsible for all advertising necessary to promote the Products within the Territory. It may be categorised as either exclusive or non-exclusive. In an exclusive distribution agreement, the supplier will grant to the distributor exclusivity over a particular territory and/or product line and/or sales channel. Unlike agents, distributors purchase products from the supplier and then resell them to customers on their own account, thereby taking control of pricing and the ensuing profit.
Legal design is a multidisciplinary approach that combines law, design, technology, psychology, and other fields to reimagine the way legal information is presented and accessed, ultimately making the law more inclusive and understandable for everyone.
Legal design recognises that traditional legal materials can be complex, confusing, and inaccessible to many people, leading to barriers in accessing justice and understanding legal rights and obligations.
Companies can achieve better Blockchain mediation and arbitration with smart contracts. Blockchain’s capacity to expedite and simplify the entire commercial process will have a flow-on benefit to both the enforcement and procedural components of arbitration.
Maintaining business continuity requires managing threats and the risk of business disruption. Disruptive events can stem from financial, operational, cyber, ESG, natural disasters, and supply chain disruptions. Predicting disruptive events can be challenging, especially when referring to unknown risks that can arise suddenly. Organisations can reduce risk exposure and even eliminate the impact of a particular type of risk event through careful planning, the use of tools, and the adoption of effective risk management processes.
NFTs are business keys of the future “metaverse”. The Non-Fungible Tokens (NFT) indicate a digital certificate of authenticity to uniquely identify a digital product created on the internet. Each NFT contains a unique serial number, known as a hash. This cryptographic key is generated from a specific digital file and makes NFTs traceable and incapable of duplication.
However, while technological progress advances, a review of the protection system is required to follow digital development and to guarantee legal protection, even to NFTs.