Q&As

Which Precedent agreement options should a company consider when supplying a product to end-customers via a representative third party?

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Published by a LexisNexis Commercial expert
Published on: 15 February 2018
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In answering this Q&A, we have focussed on the commercial models of agency, distribution and franchising as suggested ‘go to market’ options, and also licensing arrangements. Other models or agreements, or a combination of models and agreements, may be suitable for the circumstances in question.

Agency

Agency is an arrangement under which a principal appoints an agent to act at its direction for specified purposes. In business, agents are commonly appointed for the purposes of introducing and concluding agreements with new customers, marketing or customer support. The agent is given authority by its principal for specified purposes. The agent contracts on the principal's behalf rather than on its own.

For an introduction to agency relationships, see: Agency—overview. For more detailed information on the different types of agency that may be suitable for your situation, see Practice Note: Nature and types of agency.

We have a number of agency Precedents which could be adapted for your purposes which can be found in: Agency—overview

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Jurisdiction(s):
United Kingdom
Key definition:
Options definition
What does Options mean?

The right, but not the obligation, to buy or sell a fixed quantity of a commodity, currency or security at a fixed price, on or until a particular date.

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