If you have implemented a minimum advertised price (MAP) on the products that you produce or sell, you need to make sure that you understand exactly what this means. One of the easiest ways to ensure you are using this marketing practice properly is to have outside general counsel that you can consult with when making decisions.
In addition to helping you to understand and use MAPs, outside general counsel can provide you with a variety of other benefits as well. Learn more about why it is a good idea to have someone you can contact for legal advice or action when you are running a business, and especially when you are using minimum advertising pricing.
MAP is a Commonly Misunderstood Concept
Business owners and manufacturers who use MAP typically have a good understanding of the laws that apply to this type of pricing requirement. Many store owners, e-commerce site owners, and others, however, often do not know what MAP is, or they have insufficient knowledge of the topic.
If you are setting up a new contract with a company that wants to promote or sell your products, it can be beneficial to have your general counsel explain these concepts to the other party. This can help to avoid any type of misunderstanding and allow for a successful business arrangement for years to come.
Enforcing MAP Requirements
In the event that a store or other party violates your minimum advertising pricing requirements, you need to make sure that it is stopped right away. Your outside general counsel can reach out to the other party to notify them that they have violated the agreement and help them to comply going forward.
Help Maintain Business Partnerships
Anytime you are entering into any type of agreement with another party, it is important to be as clear as possible with everyone’s expectations. When an agreement includes a minimum advertised pricing policy, you want to be especially clear because these things are often misunderstood. Legal counsel can make sure that agreements are written clearly and that all parties involved know their rights and responsibilities.
In the event that someone violates the MAP that was agreed to, an outside general counsel can often step in and correct the issue while minimizing conflict. In most situations, the goal of all parties involved is to maintain a good and profitable relationship, so solving the problem without having to go to court is something your legal counsel can often do successfully.
Outside General Counsel for Your Business
Whether you use minimum advertised pricing models or not, having outside counsel is helpful for most types of business. Contact Aftermarket to go over your specific needs and learn how our general counsel services can help you today.
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