Represented an IoT assets and SaaS solution Provider Through the Negotiation of a Specialized Technology Distribution Agreement
Our client manufactures and distributes IoT (Internet of Things) hardware and SaaS (Software as a Service) products and solutions to quick service and fast casual restaurants, convenient stores and other retailers that provide various monitoring and reporting services related to the operations of their respective businesses. Another company with complementary hardware products sought our client as a strategic distribution partner whereby the two companies’ products would be combined and marketed as a bundled product and SaaS offering. Through a combination of internal reviews, bi-lateral negotiation sessions and careful drafting work, we assisted our client in negotiating a specialized technology distribution agreement. The initial version of the agreement was heavily favorable toward the counterparty and not a proper fit for the unique nature of the deal. This led to multiple iterations of the agreement and protracted negotiations, but we were able to cost effectively provide counsel and deliver quality work product by teeing up risk-based analysis for the client. This then empowered their stakeholders to make quick, informed decisions. Ultimately, the parties executed an agreement that was much more appropriate and balanced than the initial draft, and which will set them up for a mutually successful strategic partnership.