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Having products manufactured by a third party can deliver cost savings and allow a business to concentrate on sales or new product development.
About Manufacturing Agreements
Where a business wants a product manufactured for it, a strong agreement will need to be in place with its manufacturer to ensure that:
- the goods supplied meet the required specification
- the goods are delivered on time
Additionally, the purchaser will want protection as to the cost of the products throughout the contract life, as well as assurance that their product and intellectual property rights in the products are protected.
A well-drafted manufacturing agreement will set out clearly both party’s responsibilities, including:
- who is responsible for creating developments to the product;
- who owns the intellectual property in relation to new developments;
- who the products can be supplied to;
- how quickly the supplier has to be able to increase or decrease production of the products; and
- whether there are any minimum or maximum purchasing obligations.
Why Choose JMW?
Our team has vast experience of advising in relation to manufacturing agreements, acting for both manufacturers and purchasers to make sure that a robust agreement is in place to ensure both parties know what is expected of them as per the contract, and that the risks in the arrangement are appropriately allocated between the parties.