Partnership Agreement
Advanced English listening exercise ยท Negotiations
Transcript
Alex: We see great potential in combining our technologies. Your AI platform and our data analytics capabilities could create a powerful joint offering. Priya: We agree. What terms are you proposing? Alex: A revenue-sharing model where profits from joint sales are split sixty-forty in favour of whichever company originates the lead. Priya: That seems fair. What about intellectual property? Alex: Both companies would retain full ownership of their existing intellectual property. New technology developed jointly would be co-owned. Priya: And the duration? Alex: The initial term would be two years with an option to renew. We would also need a non-compete clause preventing either party from partnering with direct competitors during the agreement. Priya: That is reasonable. Shall we have our legal teams draft the formal agreement?
Comprehension questions
- What is the revenue split?
- What is the initial term?
- What will happen to the new technology developed by both companies?
- What clause is mentioned as necessary during the agreement?
- What is the purpose of combining the technologies mentioned in the transcript?