Exclusive Business Cooperation Agreement
Exclusive Business Cooperation Agreement An exclusive Business Cooperation Agreement is agreed upon by two companies for sharing services like Technology, Human Resources, Research, and Development for mutual benefit while keeping their competitor interference aside for the time the agreement is in place. The companies agree to work closely in cooperation with each other towards developing or selling a product and it is understood by both of them that whoever shares the services with their partner in mutual understanding will strictly not disclose the confidential information regarding the same, to other partners outside the Agreement. In a Vendor partnership agreement, businesses choose to feature and mutually promote their product for a specified market industry, in exchange for exclusive distribution rights. All this requires a greater level of commitment, mutual trust, and confidence. Working together while aiming at joint success, the businesses can achieve greater effect...