Trakti Smart "Legal" Contracts Blog

DATABASE LICENSE AGREEMENT

on September 27, 2023

In this type of agreement Licensor and Licensee define the data that is being licensed, including the manner and frequency with which the data will be provided/updated, how current the data will be (that is, whether the data will be provided on a “real-time” or close to “real-time” basis), the format in which the data will be delivered and the mechanism of delivery.

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CO-WORKING SERVICE AGREEMENT

on September 27, 2023

An office sharing agreement is an agreement between an owner of office space and another business. It can be used where the provider of the space owns the property or has a lease of the property. This type of agreement does not create a tenancy but a prepaid usage licence to use the provided amenities on a monthly or casual basis. It is a contractual licence. The key difference is that a licence does not grant rights over a defined and fixed area. This agreement provides the sharer with a set number of workstations but does not specify their location. Co-working space owners provide a work environment and generally, office equipment and services characteristic of a typical workplace. The features of such an office space typically include the following: shared space to work, Conference and board rooms that can be reserved or rented on need basis, Wi-Fi, shared printing, copying, faxing and/or scanning facilities, PBX equipment, common kitchens, restrooms and/or lounges…

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POST EMPLOYMENT RESTRICTION AGREEMENT

on September 27, 2023

This agreement is made between an employer and an former employee, where the employee promises to not enter into direct competition once the employment period is over. The employee is restricted from either working with a direct competitor or starting a business of their own in the same niche. This is also why independent contractors and consultants are subjected to non-compete agreements. It is important to include time limits in any non-compete clauses. It must not go beyond what is reasonably necessary to protect legitimate commercial interests. If PERs are not reasonable, they are void. Choose the minimum type, area, scope and duration of PERs which is adequate to protect the specific relationships you have identified.

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JOIN VENTURE AGREEMENT

on September 27, 2023

This contract allows parties to pool resources in an undertaking or venture that usually outlines a specific goal or time frame. Companies often partner to start projects that are in their mutual interest. With this agreement, parties do not create a new and distinct legal entity.

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SALES AGENCY AGREEMENT

on September 27, 2023

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.

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DISTRIBUTION AGREEMENT

on September 27, 2023

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.

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Legal Design: a new pillar to draft better contract

on July 28, 2023

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.

 Reading-time: 5 minutes

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