Easily Replace Cross from the Commercialization Agreement

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How to Replace Cross from the Commercialization Agreement

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hi im jose from direct network and in our last video looking at some of the things you need to know as you analyze the documentations that can comprise a commercial agreement for the supply of goods or services we focused on invitation to tender or request for quotation specification and key performance indicators that left us with contractual terms as well as pricing and other schedules remember all these falls under patron of commercial contracting which requires you to understand the legal issues that relate to the formation of contracts so there are three parts to that there are three specific learning outcomes there and uh this is part two of the fast learning outcome okay were just summarizing what you need to know as you study there okay so lets talk about that [Music] okay first of all i just want you to understand that these video summaries okay these video summaries are just intended to guide you as you study so that you can understand if youve covered as much as possible

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What do you call it when you replace the original agreement with a new agreement?

A contract amendment allows the parties to make a mutually agreed-upon change to an existing contract. An amendment can add to an existing contract, delete from it, or change parts of it. The original contract remains in place, only with some terms altered by way of the amendment.

What is a commercialization agreement?

An agreement between two entities to collaborate on commercializing one or more products incorporating one partys patentable technology, know-how, or other intellectual property (IP).

When an existing contract is replaced with a new contract?

Novation is the replacement of one of the parties in an agreement between two parties, with the consent of all three parties involved. To novate is to replace an old obligation with a new one.

What is a cross marketing agreement?

A cross-marketing agreement, sometimes called a co-marketing, cross-promotion, or co-promotion agreement in which two independent companies, usually with complementary products or services, agree to promote each others products or services.

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