Marketing Agreement (Drafting)
A Marketing Agreement is a document signed between a company and an outside entity. This outside entity shall undertake marketing activities on behalf of the company. Marketing Agreement contains the scope of the activities along with the remuneration. The support to be given by the company to the agency in such activities mentioned in the agreement along with the ways to resolve disputes and ways to terminate the same.
A Marketing Agreement, also known as a Joint Marketing Agreement, sets forth the terms and conditions under which a Marketer will assist a Client in selling their goods and/or services by creating materials that promote their products and engaging in activities to introduce the owner’s products to new customers. A Marketing Agreement shall describe the exact nature of the business relationship between a company and an entity specialised in marketing. All individual activities to be conducted by the entity are enumerated along with the time frame for completion. The aim of the agreement may also find a mention if required: it may be reaching into a particular new market, or increasing the sales of a particular product to meet a new target.
1.NAME AND CONTACT INFORMATION: In a marketing agreement, name and contact information is required for both Parties, as well as the names of any representatives who may sign the Agreement on behalf of either Party.
2.RESPONSIBILITIES: Marketing agreement contains responsibilities that must be fulfilled by each Party under the Agreement, including providing training, protecting the other Party's intellectual property, and transmitting orders.
3.PAYMENT ARRANGEMENT: This clause under marketing agreement dictates how and when the Marketer will be compensated for their work.
4.LENGTH OF THE AGREEMENT: The length of the agreement in a marketing agreement decides the time over which the agreement will remain in force and whether the Agreement will automatically renew at the end of the initial term