Business Operations Contract
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A Business Operations Contract is a legal contract agreements that pertains specifically to organizational operations.
- AKA: Operational Agreement, Business Management Contract.
- Context:
- It can encompass a variety of contracts that enable the daily functioning, management, and long-term strategic plans of a business entity.
- It can (typically) provide a framework for how business entities collaborate on operational matters.
- It can (often) be essential for the smooth functioning of the daily operations of a business.
- It can determine the terms, conditions, and expectations for ongoing business relationships.
- It can be related to various other contracts within the scope of Business Operations, from procurement to services.
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- Example(s):
- A Partnership Agreement that defines the roles, responsibilities, and profit-sharing between business partners.
- A Master Service Agreement that outlines the terms under which a service provider will perform its services for a client over an extended period.
- An Operations and Maintenance Agreement that specifies how operational and maintenance tasks will be handled for a particular asset or facility.
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- Counter-Example(s):
- A Technology and Software Contract like a Software License Agreement that pertains to the licensing of software.
- An Investment and Finance Contract such as a Shareholders' Agreement that revolves around financial commitments and equity distribution.
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- See: Legal Contract Agreement, Operational Management, Business Strategy, Business Collaboration, Business Continuity Planning.
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