International Trade Resources Podcast Suppliers - The Contracts Needed to Protect Yourself
In this episode of the International Trade Resource Podcast, host Kim Kirkendall sits down with Art Dicker, an experienced international trade lawyer and founding partner of Parkwin, to explore the key contracts businesses need when working with suppliers. With decades of experience in venture capital, joint ventures, licensing, and distribution deals, Art shares expert insights into navigating supplier relationships effectively while protecting your business.
Starting with the basics, Kim and Art break down the differences between NDAs, NNN agreements, terms and conditions, and supplier agreements. They explain when each document is appropriate and why relying on just an NDA isn’t enough to protect your intellectual property or your business. Art also highlights the critical importance of addressing ownership of product improvements, a common but often overlooked area that can create serious challenges in cross-border manufacturing partnerships.
What are some of the mistakes businesses make when working with suppliers?
- Failing to move beyond NDAs to more robust agreements like NNNs or supplier agreements.
- Overlooking how supplier contributions to product improvements impact intellectual property ownership.
- Neglecting to tailor agreements to specific supplier relationships, which can harm trust and enforceability.
Whether you’re a startup sourcing your first supplier or an established business managing complex manufacturing relationships, this episode offers actionable advice to avoid costly missteps and build stronger partnerships. Tune in to learn how to protect your business while fostering win-win relationships with your suppliers!
KEY TAKEAWAYS:
- Use NDAs for initial discussions but don’t stop there - NNN agreements and T&Cs are vital for deeper collaboration.
- Clarify IP ownership early to avoid disputes or complications if switching suppliers.
- Customize supplier agreements to balance protection with fairness, strengthening the business relationship.
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