NNN Agreements When Sourcing from China for Amazon Sellers
Welcome back to Seller Sessions! In today's video, we share valuable insights for Amazon sellers regarding NNN agreements. NNN agreements, also known as IP agreements, are crucial when sourcing products from China, protecting your business interests.
We emphasize consulting with a lawyer for customized and enforceable agreements. An NNN agreement consists of three components: Non-Use, Non-Circumvention, and Non-Disclosure.
Non-Use: Supplier can't use confidential information for purposes other than the intended business relationship.
Non-Circumvention: Supplier can't undercut you or establish direct relationships with your customers.
Non-Disclosure: Prevents theft or public disclosure of trade secrets and proprietary information.
Working with a China-based lawyer adds protection. Enforcing the agreement in a Chinese court is crucial.
An NNN agreement is effective if enforced. Consider financial aspects and willingness to take legal action. Use NNN agreements when the sensitivity of your product or information requires added protection.
We've created an infographic for better understanding. Find it on our YouTube channel or social media profiles. Each agreement should be tailored to your situation.
Key clauses commonly included in NNN agreements:
Intellectual Property: Party A holds full rights, Party B has no rights.
Confidential Information: Defines disclosed information and restricts misuse.
Modification and Development: Party A retains ownership of modifications.
Ownership of Mold: Clarifies mold ownership.
Additional clauses may be required based on your needs.
If you're considering a lawyer, we can provide contact details. Reach out to us on social media or visit our website for coaching and assistance.
Protect your business interests with enforceable NNN agreements. Until next time!
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