Different types of Business Agreements

A business agreement is a legal document which is formally framed or drafted between two or more than parties or persons who agree to conduct some kind of business amongst them. These documents are of extreme importance as they are used to lay down the terms and conditions which are mutually agreed upon by the involved parties. Any business agreement usually also considers certain monetary transactions or issues as well.

There are several types of business agreements that can be formed between people or business entities. The following are the few categories of business agreements:

  • Business partnership agreement: A business partnership agreement is made between two or more than two business entities which agree to become partners in a business venture and share the profits and losses of the venture amongst themselves. These agreements are made for certain duration of time known as ‘effective term of the agreement’.
  • Business termination agreement: a business termination agreement is an agreement which is used by a party to end or terminate the business relationship or a contract with another party on formal or legal basis.
  • Business separation agreement: a business separation agreement is a type of a business agreement which is made by two partners to legalise the terms of separation that they wish to mutually undergo.
  • Business confidentiality agreement: a business confidentiality agreement is a type of an agreement which is made in such a way that its details or terms and conditions are kept confidential and are not to be shared with any person or party other than the parties involved.
  • Business marketing agreement: a business marketing agreement is a type of an agreement which is made when a business entity hires a person or group for the marketing of the company owned by the business entity. These agreements are made for certain duration of time and are generally used for a single product or a category of product marketing.

Category: Business Agreements

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