Triple N Agreement
There are two advantages to a contract replacement provision. First, it forces the Chinese party to realize that it will face real and quantifiable consequences if it violates the NNN agreement. Second, a certain amount of money provides for a certain minimum amount of damage. This sum then gives a Chinese court the basis for a seizure of assets prior to the judgment. A credible threat to their seizures increases the likelihood that the Chinese company will comply with your NNN agreement and that you will be able to quickly take over the Chinese company if not. A triple net lease (NNN) is known as a long-term fixed agreement, albeit with minimal rent increases. An NNN agreement must contain a specific contractual injury clause that a Chinese court can and will enforce by ordering the seizure of the defendant`s property. However, care is necessary, as China`s judicial system does not allow punitive damages and does not allow for substantial consecutive damages. It is therefore important to set contractual damages at a level that adequately compensates for the damage resulting from an infringement. If I were you, I would consider manufacturing your product elsewhere as quickly as possible, and we can also help you avoid replicating that IP theft in the next country where you are going to manufacture your product. Moving Your Manufacturing Out of China: The First Decisions. If you want to move your production elsewhere, we must first see if you can claim ownership of the form you claim to have worked on and whether it makes economic sense.
Do you have an agreement with them on form? Maybe something like what we`re describing here? Because of your signature on the document, it means approving all changes, whether you know them or not. Below are some pitfalls for the unwary that could derail your efforts towards an effective NNN agreement: You need an NNN agreement centered on China to protect your IP address in China. The three “Ns” that merged a China-NNn agreement are non-use, non-disclosure and non-circumvention. Look at each one after the other. An effective agreement to be used for research, general quotations and the opening of earlier negotiations with a Chinese producer is a confidentiality, non-use and circumvention agreement (NNN). A triple net tenancy agreement (NNN) is a commercial real estate contract in which the tenant is responsible for all expenses related to real estate, in particular real estate insurance, property tax and general land maintenance (CAM). In most triple net leases (NNNns), this includes all services and utilities used by the tenant. This is especially true for retail, commercial and independent properties. A bondable lease (also known as an absolute triple net lease, “true triple net lease,” “hell-or-high-water lease” or “absolute net lease” is the most extreme variant of a net triple leasing, in which the tenant bears all the real estate risks imaginable related to the property. These additional risks include the obligation to rebuild after an accident, regardless of the relevance of the insurance product, and to pay the rent after partial or total conviction.