Exclusivity Agreement

An exclusivity agreement is a contract where one party grants another the exclusive right to perform a specific activity or sell a product within a designated area or time frame. This means that the party receiving exclusivity cannot work with competitors in that area or for that period. Such agreements are common in business deals, like franchising or distribution, where the exclusive party gains an advantage by limiting competition. It helps protect the interests of both parties by ensuring that the exclusive rights are upheld throughout the agreed term.