A marketing agreement is a contract by which a freelance marketer agrees to market another company's products. Marketing agreements will specify the parties involved, the cost of services, the scope of work among other details. An effective agreement doesn't necessarily have to be an intricately detailed report with hundreds of pages. The core value of the agreement is to clarify the purpose of the working arrangement, strengthening the working relationship between the parties.
Despite keeping things simple, some details should not miss from your contract, regardless of how simple you want it to be.
Your marketing agreement should indicate the parties involved, and which roles they play in the business relationship. An attorney usually oversees this aspect since the contract will be legally binding for all parties involved. The details include the freelancer and the company that are forming the business relationships, their physical addresses, their chief representatives (who are usually lawyers) as well as the roles they will play.
Both parties, their representatives, and a legal attorney will sign the document making it legally binding.
The agreement details the scope of the needs that one party is in need of, and the process the freelancer will follow to fulfill these needs. The services are explicitly specified in the contract. Also covered in the contract is the compensation that the freelance marketer will receive in return for their services. Sometimes, contracts usually exceed the proposed scope of work. The extra jobs that the Freelancer does are outlined, and thus, compensation will be specified.
This step prevents the potential of one party crying foul due to extra tasks that they were not prepared to handle while at the same time, assures the client that their needs will be met in full regardless of what direction the project takes. Sometimes, the Freelancer will require authorization from the client before any of their ideas are implemented. This issue may need additional working days just for approval. The contract must specify how such a situation can be handled without either party breaching the contract.
Also to be specified are the means of handling finances. Some firms prefer cheques while others exclusively deal with bank transfers. The due date of the payments should also be specified in the contract.
The contract terms of termination usually specify how long the project is expected to take. Thus, there will either be a specified ending date, or proposed duration regarding weeks or months. The terms of termination also cover the details and process which a party must follow in case they wish to opt out of the project. Very often, the parties are usually expected to give a notice of termination as early as 30 days prior. This clause allows the client time to adjust as they source for a new freelancer to handle their marketing needs.
This clause ensures that the contracting company's information is secure. Marketing services involve handling a lot of information, and sometimes sensitive information needs protection. Thus, the client is at liberty to sue the freelancer if they discover that confidential information has been leaked and used without their knowledge. The same applies to intellectual property. Sometimes, the freelancer might have developed unique techniques and tools.
These are their intellectual property, and cannot be claimed by the client. Thus, the marketing agreement will ensure that the competitive risk due to leaked information is mitigated. Lastly, the confidentiality clause specifies who will own what after the contract lapses. This clause mitigates the possibility of competitive risk as mentioned earlier.
Your lawyer is involved in the process of building the marketing agreement. The beauty of a written agreement is that it will address the issues articulated in this article, plus many more.