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Product Partnership


 

AKJ Inventions makes strategic partnerships based on:

Common goal

  • To develop close, effective and trusting relationship where both partners in common interests work together to develop and produce innovative products.

Product development and product design ready for production

  • Product requirements specified clearly and in writing at startup.
  • AKJ Inventions develops prototype.
  • AKJ Inventions select components.
  • Both partners test in common.

Production

  • Once the prototype is approved by both partners then AKJ Inventions starts the production of the agreed number of units.
  • For each production start-up, AKJ Invntions handles continuous optimization of component quality and price.

Further development

  • New features to the product agreed in writing , to separately agreed prices and delivery times.

Quality & Warranty

  • The Product Partner is responsible for all tests and approvals concerning the use of the product - and responsible for the product so it does not violate any third party rights.
  • AKJ Inventions is responsible for the technical requirements for the materials , form, function and methods are met in accordance with the specifications described in the contract.
  • In areas where there is subject to specific requirements , good industrial and artisanal practices is valild.
  • Deliveries which dont meet the requirements of the contract or an order  may be rejected by the Product Partner the first 30 days after delivery.
  • AKJ Inventions offers a 2 year warranty for manufacturing defects of any kind.
  • If AKJ Inventions dont meet  warranty obligations within a month, the Product Partner can charge equipment repair elsewhere on AKJ Inventions's expenses.

Supply Security

  • Delivery time on the replenishment of products : 4-6 weeks from payment.
  • Delivery of prototype : Decide on contracting.
  • Delivery time on one production : 6-12 weeks after approval of the prototype , to be specified by contracting.
  • Exceeding the agreed delivery times by more than a month reimburse AKJ Inventions 10% of the agreed price per . month started .
  • Delivery AKJ Inventions address.
  • AKJ Inventions ensure supplies from alternative suppliers , in which case the intermediate and / or subcontractors shall be removed from the market.

Fundraising

  • AKJ Inventions participates in joint development projects funded by the third part.
  • AKJ Inventions perform application and project management.
  • AKJ Inventions covers minimum 50 % of the cost of fundraising.
  • A requirement,  an agreement is signed with AKJ Inventions of continued cooperation after the project period.

Price

  • The Product Partner is responsible for sales and marketing approvals and guarantees to purchase X number of items . per . year over the next three years.
  • Startup costs for design and product development, one time amount is agreed by contract writing .
  • Variable unit costs:
    • Agreed by contract writing with varying prices depending on quality order per. order.
  • AKJ Inventions makes ongoing material optimization and guarantees thereby decreasing unit prices each year during the contract period.
  • AKJ Inventions commits to maximum prices per. year.
  • Rate 1 : 30 % when booking
  • Rate 2: 70 % by delivery
  • New development : 15% of Partnership discount on AKJI 's normal hourly rates .

Property rights, eksclusivity and bonds

  • The Product Partner gets exclusivity on the product in Denmark - and the right to use the product in all other own products around the world.
  • The Product Partner is bounded not to let other than AKJ Inventions be responsible for the development and further development of the product.
  • The Product Partner has the right to designate sub-dealers/representatives for sales and marketing.
  • liquidated damages kr . 500.000 , -
  • Your market , our technology. Design documentation can be purchased separately at an agreed price.

  • Secret clause.
  • Three-year agreement with the priority right renewal of exclusivity.
  • 12 months mutual notice period .