Contract Dispute Lawyer Virginia
Online reseller agreements have become a popular business model in recent years. These agreements, formed between a product owner and an online reseller, can produce substantial incremental income for both parties. Success, however, is heavily dependent on having a well-written online reseller contract. If you are considering getting involved with an online seller, contact a contract dispute lawyer Virginia clients recommend from Dale Jensen, PLC Law Firm.
The Basics of Online Reseller Agreements
An online reseller is responsible for attracting customers and taking orders for the product. The reseller may obtain orders through their own website and/or through an online marketplace website such as Amazon or eBay, depending on the terms of the agreement.
The product owner may be a large manufacturer, a U.S. distributor, or even an artisan. The product owner is responsible for shipping orders directly to the end customer. In the case of digital products, such as software or photographs, a customer may download their purchase from either the reseller’s website or the owner’s website, depending on how the reseller agreement is written.
The Value of Consulting a Lawyer Before Signing a Reseller Contract
Three important functions of a reseller agreement are to protect the reputations, intellectual property rights, and financial interests of the two parties. An attorney with in-depth knowledge of online contract law can make sure that your interests are well-protected in these key areas. Your business formation lawyer Virginia companies trust can also help you understand the purpose and implications of the contract’s terms and conditions.
- Satisfy Customers to Protect Both Parties’ Reputations
The product owner’s reputation depends on the reseller’s ability to market their product appropriately and process customer orders accurately. In turn, the reseller’s reputation relies on the product owner to maintain product quality and fulfill customer orders quickly. An online reseller agreement should cover details such as turnaround time for orders and how customer service issues will be resolved.
- Protect Intellectual Property, But Also Profit from It
Reseller contracts must protect the product owner’s brand equity, but also give the reseller sufficient freedom to market the product and generate sales. The contract should clearly define which products the reseller is authorized to sell, during what time frame, in what territories or markets, and any exclusivity rights. The agreement should also describe the marketing policies and pricing policies set by the product owner, along with appropriate confidentiality and intellectual property rights clauses.
- Make the Financials Work for Both Parties.
The right economics are critical to a successful reseller agreement. Sales targets, minimum authorized prices, suggested retail prices, discounting policies, and payment terms should all be covered in the contract.
Ultimately, the terms of the reseller contract are critical to both parties’ success. Take the time to understand the meaning and effect of each clause before signing.
Let Our Firm Help Your Business
Online reseller agreements can generate easy income or a lot of trouble. Make sure your legal and financial interests are fully protected by having a knowledgeable Virginia contract dispute lawyer write and review your reseller contracts. The legal team at Dale Jensen, PLC Law Firm stays up-to-date on the hot issues and best practices related to online contracts and intellectual property protection. Call our office today.