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Benefits Of A Master Service Agreement

As with all commercial agreements, a master service agreement and specifications will deal with termination rights. A framework contract, also known as an MSA, is a contract concluded by the parties, which sets out the conditions applicable to future work or services provided. It is not uncommon for clients to bring a significant amount of client IP to the relationship, and for a service provider to have to use that IP to run services and create services. In this case, an MSA may grant a service provider limited license rights on the Client IP in order to fulfil its obligations to the Client in accordance with the APPLICABLE MSA and Specifications, but not for the benefit of third parties. For example, for some technology transactions, the parties enter into a separate technology licensing agreement dealing with technology licensing, and then a master-service agreement to process all related services. If there are related agreements with your MSA, you must ensure that the entire structure cooperates and that contractual remedies are coordinated.. . . .