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Summary of BUsiness law
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- Business (GE317)
Summary of 1 pages for the course Business at Confederat (Learning activity)
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BUSI2023 Business LawLearning activity 8
Name: Quynh Nguyen
There are some types of agreements that are relating to the use and license of tangible and intangible
property by the company under this situation:
The building lease between Sassy, her husband – Harry and the “Bon Sell-It Real Estate” – Real
estate lease agreement
Between “Sell-It Real Estate” and “Bon Sell-It Real Estate” – Franchise agreement
Using the name “Bon Sell-It Real Estate” (between Bonnie and the franchisee” – Patent
agreement
All seven employees and the “Bon Sell-It Real Estate” – Employment contract agreement
The ET logo used on the vases, sales, and distribution of the vases – Trademark of the logo and
copyright for the special vases
Fred and the “Bon Sell-It Real Estate” – Purchase agreement for the software, maintenance of
software and the confidentiality of the clients
Moreover, we also need to consider three other formal agreements that need to be drawn up for the
company to be legally covered:
Letter of intent - The Company should look for a letter of intent from the purchaser. In this agreement,
the purchaser will plot the terms and conditions of the arrangement like the agreed cost. This letter will
be a non-binding letter and will enable the purchaser to direct due diligence to evaluate the
organization.
Confidentiality agreement - This agreement is signed before the due diligence is conducted by the
purchaser. This agreement forces the purchaser to keep the reality regarding the potential arrangement
confidential. This agreement is normally a piece of letter of expectation yet can likewise be considered
as a different agreement.
Purchase agreement - If Bonnie's organization chooses a buyer and terms and conditions have
concurred then a buy agreement ought to be drawn. This formal agreement will incorporate all major
and minor insights in regards to the arrangement. It will incorporate realities like value, any type of
financing for the arrangement between the purchaser and the dealer; any no contend contracts and so
on.
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