Agency is a relationship based on an agreement authorizing one person, the agent, to act for another, the principal. For example an agent may negotiate and make contracts with third persons on behalf of the principal. Actions of an agent can obligate the principal to third persons. Actions of an agent may also give a principal rights against third persons.
The term agency is often used in other ways. For example, the term is used sometimes to show that a person has the right to sell certain products. A very important aspect of the law of agency deals with determining the scope of the agent's authority.
In this form, the agent only has authority to solicit orders and has no authority, right or power to accept any order, or to assume or create any obligation on behalf of the principal. In this form, the salesman receives as compensation a commission on sales, but no salary.
The Hennepin Minnesota General Sales Agency Agreement is a legally-binding contract that establishes a working relationship between a principal and a sales agency. This agreement outlines the duties, responsibilities, and compensation terms between both parties. It is specific to Hennepin County, Minnesota, and is commonly used in various industries such as manufacturing, distribution, and retail. Key provisions typically included in the Hennepin Minnesota General Sales Agency Agreement are: 1. Parties: Clearly identifies the principal (the company that owns the product or brand) and the sales agency (the independent entity responsible for selling the product or brand). 2. Scope of representation: Defines the products or services the sales agency is authorized to sell on behalf of the principal. 3. Territory: Specifies the geographic area within Hennepin County where the sales agency is granted exclusivity to sell the principal's products or services. 4. Obligations of the sales agency: Outlines the responsibilities of the sales agency, such as promoting the principal's products, securing orders, attending trade shows, and providing regular reports. 5. Obligations of the principal: Clearly states the support, training, and resources the principal will provide to the sales agency to facilitate successful sales efforts. 6. Compensation structure: Sets forth the compensation method, such as commission rates, and any additional incentives or bonuses the sales agency may be entitled to for achieving sales targets. 7. Intellectual property: Ensures that the sales agency respects and protects the principal's intellectual property rights, including trademarks, copyrights, and trade secrets. 8. Confidentiality: Requires the sales agency to maintain the confidentiality of any proprietary information shared by the principal during the course of the agreement. 9. Termination clause: Specifies the conditions under which either party can terminate the agreement, including the notice period and potential grounds for termination, such as breach of contract or non-performance. Different types of Hennepin Minnesota General Sales Agency Agreements may exist depending on the industry or specific requirements of the principal. For example, there may be variations for pharmaceutical sales, technology product sales, or automotive sales. However, the essential purpose and structure of the agreement generally remain the same.The Hennepin Minnesota General Sales Agency Agreement is a legally-binding contract that establishes a working relationship between a principal and a sales agency. This agreement outlines the duties, responsibilities, and compensation terms between both parties. It is specific to Hennepin County, Minnesota, and is commonly used in various industries such as manufacturing, distribution, and retail. Key provisions typically included in the Hennepin Minnesota General Sales Agency Agreement are: 1. Parties: Clearly identifies the principal (the company that owns the product or brand) and the sales agency (the independent entity responsible for selling the product or brand). 2. Scope of representation: Defines the products or services the sales agency is authorized to sell on behalf of the principal. 3. Territory: Specifies the geographic area within Hennepin County where the sales agency is granted exclusivity to sell the principal's products or services. 4. Obligations of the sales agency: Outlines the responsibilities of the sales agency, such as promoting the principal's products, securing orders, attending trade shows, and providing regular reports. 5. Obligations of the principal: Clearly states the support, training, and resources the principal will provide to the sales agency to facilitate successful sales efforts. 6. Compensation structure: Sets forth the compensation method, such as commission rates, and any additional incentives or bonuses the sales agency may be entitled to for achieving sales targets. 7. Intellectual property: Ensures that the sales agency respects and protects the principal's intellectual property rights, including trademarks, copyrights, and trade secrets. 8. Confidentiality: Requires the sales agency to maintain the confidentiality of any proprietary information shared by the principal during the course of the agreement. 9. Termination clause: Specifies the conditions under which either party can terminate the agreement, including the notice period and potential grounds for termination, such as breach of contract or non-performance. Different types of Hennepin Minnesota General Sales Agency Agreements may exist depending on the industry or specific requirements of the principal. For example, there may be variations for pharmaceutical sales, technology product sales, or automotive sales. However, the essential purpose and structure of the agreement generally remain the same.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
