A Market Development Agreement is essential when companies seek to expand their presence in new markets through third-party developers or representatives. This agreement, governed by Singapore law, defines the scope of market development activities, territorial rights, performance expectations, and compensation structures. It incorporates key provisions required under Singapore's legal framework, including competition law compliance, data protection, and territorial restrictions. The document is particularly relevant for companies expanding within the ASEAN region, using Singapore as their regional hub.
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Key Requirements PROMPT example:
Market Development Agreement
"Need a Market Development Agreement under Singapore law for appointing a developer to expand our software products in Thailand and Vietnam, with quarterly performance targets and a minimum revenue requirement of SGD 2M for 2025."
1. Parties: Identification and details of contracting parties
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Appointment and Territory: Scope of market development rights and geographical coverage
5. Rights and Obligations: Core responsibilities of each party
6. Performance Targets: Specific goals and metrics for market development
7. Term and Termination: Duration and conditions for ending the agreement
8. Confidentiality: Protection of sensitive information
9. Governing Law: Application of Singapore law and jurisdiction
1. Non-Competition: Restrictions on competitive activities when exclusive arrangements are required
2. Training and Support: Details of support provided by principal when technical or operational support is part of the arrangement
3. Insurance: Required insurance coverage when specific risks need to be covered
4. Force Majeure: Provisions for unforeseen circumstances when long-term commitments are involved
1. Territory Description: Detailed definition of geographical coverage
2. Performance Metrics: Specific KPIs and measurement methods
3. Product/Service Schedule: List of products/services covered by the agreement
4. Commission Structure: Detailed compensation arrangements
5. Marketing Guidelines: Brand usage and marketing requirements
6. Reporting Templates: Standard forms for performance reporting
Authors
Relevant legal definitions
Agreement
Applicable Laws
Business Day
Commencement Date
Competing Business
Confidential Information
Development Services
Effective Date
Force Majeure Event
Initial Term
Intellectual Property Rights
Key Performance Indicators
Market Development Plan
Marketing Materials
Minimum Performance Requirements
Performance Metrics
Principal
Principal's Products
Quarter
Renewal Term
Reports
Services
Singapore Dollar
Target Market
Term
Territory
Third Party
Trade Marks
Working Hours
Applicable Laws
Business Day
Commencement Date
Competing Business
Confidential Information
Development Services
Effective Date
Force Majeure Event
Initial Term
Intellectual Property Rights
Key Performance Indicators
Market Development Plan
Marketing Materials
Minimum Performance Requirements
Performance Metrics
Principal
Principal's Products
Quarter
Renewal Term
Reports
Services
Singapore Dollar
Target Market
Term
Territory
Third Party
Trade Marks
Working Hours
Clauses
Appointment and Authority
Territory Definition
Term and Duration
Market Development Obligations
Performance Requirements
Reporting and Monitoring
Compensation and Commission
Marketing and Promotion
Intellectual Property
Confidentiality
Non-Competition
Non-Solicitation
Brand Protection
Training and Support
Compliance
Representations and Warranties
Indemnification
Limitation of Liability
Force Majeure
Termination
Post-Termination Obligations
Assignment and Subcontracting
Notices
Data Protection
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendments
Waiver
Territory Definition
Term and Duration
Market Development Obligations
Performance Requirements
Reporting and Monitoring
Compensation and Commission
Marketing and Promotion
Intellectual Property
Confidentiality
Non-Competition
Non-Solicitation
Brand Protection
Training and Support
Compliance
Representations and Warranties
Indemnification
Limitation of Liability
Force Majeure
Termination
Post-Termination Obligations
Assignment and Subcontracting
Notices
Data Protection
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendments
Waiver
Relevant Industries
Relevant Teams
Relevant Roles
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