in an article in the Harvard Business Review.
In particular, an umbrella agreement can help parties understand each other’s values and adapt to changing conditions, writes marketing professor Stefanos Mouzas of Lancaster University Management School in the U.K. Umbrella agreements are common between retailers and manufacturers, but sellers and buyers in a wide range of industries may benefit from negotiating such “mega-agreements.” By contrast, subsequent short-term contracts would involve price negotiation and perhaps promotional allowances for specific products. Discover how to improve your dispute resolution skills in this free report, Dispute Resolution: Working Together Toward Conflict Resolution on the Job and at Home, from Harvard Law School.Ī framework between a soft-drink company and a grocery chain, for example, would typically cover issues such as exclusivity, invoicing, confidentiality, termination, and so on.
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