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Unit 10 Foundation


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termination
end of contract
expiration
agreed date upon which the contract will end
non-disclosure
obligation not to reveal any information
author
person who creates a piece of work
freelance
being self-employed and working for various companies
to commission
order someone to do sth in exchange for payment
creative work
work producted by a freelance designer
perishable goods
goods that go off quickly
merchandise
goods
warehouse
building used for storage of goods
to exceed
go above the amount that is allowed
retailer
a company or a person who sales goods to the public
wholeseller
someone who buys in large bulks and sells to retailers
to give notice
inform or warn somebody of something
material breach
serious violation of a contract
minor breach
not serious violation of the terms of a contract which does not invalidate the entire agreement
go into liquidation
wind up
assignor
person who transfers the rights
assignee
person or a company who buys the rights
assignment
transferring ownership of a right to the another person
to assign
transfer of a right
licensor
person who grants a licence e.g. to use his or her intellectual property
licensee
person who is allowed to use a licence
licence
an official document that gives someone permission to do or use something
encumbrance
legal interest in an asset held by third party
infringement
breaking a law
to infringe
to break a law
public domain
work in the public domain can be used by anyone and is not protected by copyright
to retain title
own a title
precaution
something that prevents something dangerous or problematic from happening
to anticipate
predict
pitfall
problem
retention of title clause ROT
provision in a contract for the sale of goods which means that the seller keeps legal ownership of the goods until certain obligations are fulfilled by the buyer
warranty
guarantee/promise
indemnity
clause in which one party says it will compensate the other party for certain losses that may happen as a result of entering into the contract.
force majeure
an unexpected event that stops you doing something that you promised to do in a contract
supervening event
something unexpected that stops or interupts an event
unforeseeable event
sth unpredictable to happen for a reasonable person