BUSINESS AGREEMENT.

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Samples legal papers
March 19, 2023

BUSINESS AGREEMENT.

This Business Agreement (hereinafter referred to as the “Agreement”) is made and entered on this ______ day of _______ 2021 (the “Effective Date”), between Dawn Pierre, Contact Info: ___________, (hereinafter referred to as the “Owner”), and Jeff Woodson, Contact Info: ____________ (herein referred to as the “Promoter”).

NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties hereto, the Parties covenant and agree as follows:

  1. TERM.

The initial term of this Agreement shall be for a period ____ [Weeks/Months/Years] commencing on the Effective Date herein.

  • SCOPE.
    • The Owner shall contract the services of the Promoter to find buyers for the Owner’s patents. Patents covered under this Agreement shall include patents for the Owner’s 1st Five (5) patents under the Owner’s name.
    • The Promoter shall prepare the Owner for pitching engagements, coach the owner on how to speak with the correct diction, vocabulary and professionalism.
    • The Parties agree that the turnaround shall be Two Months and should the Promoter need more time they must communicate this promptly with the Owner in writing. If the Promoter fails to bring any buyers then the Parties shall terminate this Agreement.
  • COMPENSATION.
    • The Promoter shall receive 0.03% of every patent sold, payment shall be made once received in the Owner’s account and cleared from the bank.
    • If the Promoter pay’s for the Owner’s travel and accommodation expenses out of pocket, they shall be reimbursed in full upon payment for every patent sold. The Promoter shall be required to issue the Owner with all receipts for reimbursement.
  • INTELLECTUAL PROPERTY/ASSIGNMENT/WAIVER.
    • The Owner shall own all and any intellectual properties/copyrights over patents covered under this Agreement. The Owner shall have the right sell, reproduce, brand, advertise and market the patents as they see fit without the Promoter’s interference and/or consent. The Promoter shall not lay any claim or rights to the patents during the term of this Agreement and/or the termination/cancellation thereof.
    • The Promoter shall not assign its rights or obligations under this Agreement, or subcontract their obligations to a third party without prior written Notice and/or consent of the Owner.
    • The waiver by either party of any breach or failure to enforce any of the terms and conditions of this Agreement at any time shall not in any way affect, limit, or waive such party’s right thereafter to enforce and compel strict compliance with every term and condition of this Agreement.  
  • FORCE MAJEURE.

The failure on the part of the Promoter to perform their obligation under this contract will not be considered as default if such failure is the result of natural calamities, acts or God, Covid-19, extreme adverse disasters and circumstances beyond the control of the parties. The Promoter shall inform the Owner of such inconveniences promptly.

  • TERMINATION/CANCELLATION.

The Parties acknowledge that either Party can terminate/cancel this Agreement at any time provided that they issue a 30 Day Written Notice on the same.

  • PARTIES WARRANTY.

Each party represents and warrants to the other that such party has acted in good faith, and agrees to continue to so act, in the negotiation, execution, delivery, performance, and any termination of this Agreement.

  • MODIFICATION.

This Agreement contains the entire Agreement between the Parties relating to the subject matter hereof and supersedes any and all prior agreements or understandings, written or oral, between the parties related to the subject matter hereof.  No modification of this Agreement shall be valid unless made in writing and signed by both parties hereto.

  • GOVERNING LAW AND JURISDICTION
    • This Agreement shall be governed by and construed in accordance with the laws of ____________ [State/Country]. Exclusive jurisdiction and venue shall be in ____________ [State/Country].

IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective Date.

OWNER: _____________     ________________________________         ___________

                (SIGNATURE)                       (NAME)                                             (DATE)

PROMOTER: _____________            ________________________              ___________

                                (SIGNATURE)                           (NAME)                                    (DATE)

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