EXPLAINING VARIOUS TYPES OF AGREEMENTS

+ What is a mutual NDA?

A two-way or mutual NDA protects two parties that want to share information with each other but need to make sure that the information remains confidential.

+ What is a unilateral NDA?

A one-sided or unilateral NDA protects a party that wants to share information with another party but wants to make sure that the information remains confidential.

+ What is a Memorandum of Understanding (MoU)?

A memorandum of understanding (MOU) is a non-binding agreement between two or more parties outlining the terms of an understanding, including each parties' roles, responsibilities and requirements. An MOU is often the first stage in the formation of a legally binding agreement. Although not binding in itself, it may have some legal bearing in a court of law and is stronger than a Letter of Intent.

+ What is a Letter of Intent (LoI)?

A letter of intent is a letter between two parties, which creates the basis for a future agreement. A Letter of Intent is not legally binding however so it is important that you sign a legally enforceable agreement before you start work.

+ What is an Agency Agreement?

An agency agreement is a legal contract to the effect that one party ("the principal") agrees that the actions of a second party ("the agent") will bind the principal to later agreements made by the agent in the same way as if the principal had directly made the later agreements.

+ What is a Distribution Agreement?

A distribution agreement is a legal agreement between a supplier of goods and a distributor of goods. The supplier may be a manufacturer, or may itself be a distributor reselling another's goods.

+ What is a Joint Venture Agreement?

This document is required to legally form a joint venture between two or more parties who would like to undertake a new discrete project, start a new service, or do some other type of specific work together in order to make a profit.

+ What is a Manufacturing Agreement?

A manufacturing agreement is a contract that establishes the service arrangement between the product creator or developer and the manufacturer. It sets the terms under which the manufacturer will produce the product, the quantity to be produced, pricing and the delivery mode for those goods.

+ What is a Partnership Agreement?

A partnership agreement sets out the terms on which you and your partner will operate, how a partner may leave, or how disproportionate partnership contributions are handled. A Partnership Agreement is not to be confused with a Shareholders' Agreement whereby two parties hold shares in a limited company.

+ What is a Referral Fee Agreement?

A Referral Fee Agreement is for use where a supplier of goods or services wishes to engage another as a referrer of new customers to them in return for a fee, in order to generate more sales and increase the client’s customer base.

+ What is a Software Development Agreement?

A software development agreement is a contract where the Developer agrees to develop a software application for the client. Concise drafting is key in Software Development Agreements to ensure that the resulting software meets the client’s requirements and also does not allow for scope creep to the detriment of the developer.

+ What is a Subcontractor Agreement?

A Subcontractor Agreement is an agreement between a main contractor and a person or company (a subcontractor) so that the subcontractor can deliver part of the main contractor’s work. It outlines the scope of the subcontracted services, cost and payment, the process for managing change to scope or contract and what happens in the event the subcontractor doesn’t deliver or delivers below standard.

+ What is a Supplier Agreement?

A Supplier Agreement is an agreement between a client and a person or company (a supplier) so that the supplier can deliver the work. It outlines the scope of the services, cost and payment, the process for managing change to scope or contract and what happens in the event the supplier doesn’t deliver or delivers below standard.

+ What is a Directors Service Agreement?

A company director has certain rights and obligations arising as an employee as well as a director of a company. For this reason, it is imperative that you have a Director's Service Agreement in place.

A director’s service agreement includes important information regarding the Director's appointment commencement date, what the duties of the director are, a right for the company to monitor the director’s email and other communications carried out on company equipment and limitations on the director in engaging in business or professional activities outside the employment, where appropriate.

A Director's Service Agreement will protect all parties, including the company from a Director that acts negligently or beyond their remit and will set out clear guidelines for an eventuality where the directorship should no longer continue.

+ What is an Employment Agreement?

A contract of employment is an agreement between an employer and employee and is the basis of the employment relationship. Employees are legally entitled to a written statement of the main terms and conditions of employment within two calendar months of starting work. This should include details of things like pay, holidays and working hours.

+ What is a Consultant or Freelancer Agreement?

If you employ consultants or freelancers you must have a written agreement between you otherwise you may be deemed an employer and liable to pay national insurance contributions and employee benefits. It will also outline what your expectations are in terms of delivery, role and responsibilities

+ What is an Employment Offer Letter?

A job offer letter is a formal written document sent by an employer to a job candidate selected for employment. It's always a good idea to have formal written confirmation of the offer, so both the employee and the employer are clear as to the conditions of employment prior to entering into a formal agreement.

+ What is an Internship Agreement?

Internship agreements are not specifically regulated by law. The parties are in principle free to agree on the conditions of their relationships. However, an internship agreement could in fact be an employment contract if not drafted correctly conveying obligations on your business to treat the intern as they would an employee (national insurance contributions and employee benefits).

+ What is a Staff Handbook?

Creating a staff handbook not only establishes the measures your company takes to comply with employment legislation, it also one of the most useful documents you can provide to defend against a legal claim that may be taken against you. A comprehensive and compliant employee handbook will show that the you exercised “reasonable care” towards your employees and confirm that the right policies and procedures were in place at the time of the claim.

+ What is a Subcontractor Agreement?

A Subcontractor Agreement is an agreement between a main contractor and a person or company (a subcontractor) so that the subcontractor can deliver part of the main contractor’s work. It outlines the scope of the subcontracted services, cost and payment, the process for managing change to scope or contract and what happens in the event the subcontractor doesn’t deliver or delivers below standard.

+ What is an IP Assignment Agreement?

An assignment of intellectual property is a transfer of an owner's rights, title and interests in certain intellectual property rights where the transferring party transfers to the receiving party its ownership in the intellectual property rights.

+ What is a End User Licence Agreement (EULA)?

An End User License Agreement (EULA) is a legal contract between a software application author or publisher and the user of that application. If you are licensing your software, then this is what you need to regulate your relationship with your end users

+ What is a Software as a Service Agreement (SaaS)?

A SaaS Agreement is effectively a service agreement for a service that includes software. It is not a licence agreement as such. Typically, SaaS Agreements are suitable for situations where the software is not installed on the customer’s computer at all. Instead, the Supplier keeps the software on its computers or at a third-party data center, and the customer can access it through the internet.

+ Can TLB help with all the above?

Yes, indeed. We have drafted, reviewed and amended thousands of contracts to date. Get in touch to find out more.