Develop Phase: Selling Goods and Services - Contracts for services
9 important questions on Develop Phase: Selling Goods and Services - Contracts for services
Which terms should be involved in a contract for services?
- Scope of services (state the business objective or purpose)
- Timeline for performance and payment
- Charges and payment
- Liability
Which type of charging and payment are known and in which case are they used?
- Pricing may be fixed in cases of well defined or repetitive services
- pricing may vary in case of not well defined services
Describe Intellectual property and what it is about?
It is granted special legal protection depending upon the type of work that it is.
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What are common types of intellectual property?
- Patents protect inventions for 20 years (generally)
- Copyright works of authorship the protection generally lasts years beyond the life of the author It at are in a tangible form as books, music, and artwork.
- Design Rights (UK) are similar to copyright and may be registered or unregistered. The period of protection for an unregistered design is only years).
- Trademarks protect words, names, symbols, sounds, or colors that distinguish goods and services. Can be renewed for ever.
- Trade secrets information that companies keep an advantage over their competitors.
On what types of reasons can a contract be terminated?
What means termination for convenience?
The will not allow the seller to terminate for convenience. Buyers insist that only they are allowed to terminate for convenience.
What means termination for cause provisions mean?
Seller insist that the contract may be ended in the event of non-payment or bankruptcy.
is not uncommon to have a force majeure basis for termination, which is triggered when a major event outside the sellers control makes impossible.
Buyers insist on the ability to terminate the contract for any significant breach by the seller.
What does the statement of work (SoW) describe?
It identifies measurable or verifiable performance and acceptance criteria.
document is generally an exhibit (appendix) to a service contract specifies terms relating to the provision of services in general.
What is the SoW representing?
The question on the page originate from the summary of the following study material:
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