Origination of an Opportunity
Summary A Commission Agreement for an opportunity records an arrangement where one person receives a commission for introducing a business opportunity to another person.
Why do I need a Commission Agreement? Where one person introduces a business opportunity to another person, who will be pursuing and benefiting from that opportunity, then a Lead Commission Agreement may be used to record the agreement between the parties. This could include the origination of an idea or concept, or the facilitation of a business association with another party. A written agreement for the commission arrangement assists in establishing the terms of your collaboration and relationship, including intellectual property, confidentiality, and financial arrangements.
Note that this commission contract is intended to be used for a specific, once-off referral of an opportunity, as opposed to recurring commissions earned for the ongoing referral of leads. For an ongoing lead Commission Agreement, then have a look at our One-Way Commission Agreement or Reciprocal Commission Agreement.
What does the Commission Contract say? The template document includes: Introduction and Definitions; Relationship and Process; Intellectual Property and Confidential Information; Term and Termination; Commission; Roles and Responsibilities; Breach; Dispute Resolution; General.
What does the contract look like? This template Commission Contract can be printed onto six pages.
What do you need to do to use the agreement?
- Read the template Commission Agreement to ensure that it suits your requirements. Make changes as required.
- Ensure that the blanks have been filled in, including the details of the commission calculation.
Lead Commission Agreements – what other documents do I need? When you’re entering into a collaboration with a business associate or discussing potential opportunities it is recommended that you sign a suitable business NDA. (ie. a Non-Disclosure Agreement)
Also known as: Lead Commission Agreement; Commission Contract; Introductory Commission Contract
Also viewed: Once-off Commission Agreement
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