The Piggyback agreement is a form of business collaboration agreement where a company willing to move into a new market uses another company’s distribution network in exchange for a commission.
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Entries by Business Law
Our Legal Guide for investing in Spain comprises four major parts that focus on the “Why, What, How, and Where” of investing. Our goal is to help enumerate the specific advantages that the Spanish market offers at this moment and offer a guide, from a legal perspective, of how to proceed with an investment with efficiency and guarantees of success.
The content of a distribution contract depends, inter alia, on the covered territory and on exclusivity obligations. In any case, and with regards to an international contract, if the product is to be distributed in Spain, the terms shall comply with Community law and Spanish regulations.
Distribution, based on the purchase of goods from a supplier and the subsequent resale of the goods by a distributor, is an effective means of entering a new market through the distributor´s network of local clients.
Smart contracts are becoming the new preferred type of contract used in the financial sector. They are easy to use, have lower transaction costs, shorten settlement cycles, mitigate fraud and are transparent. However, an interesting aspect is whether smart contracts will offer consumer or buyer protection.
In their ruling 140/2016 of 21 July 2016, the Plenum of the Spanish Constitutional Court resolved the appeal brought by the Parliamentary Socialist Group of the Congress of Deputies against Law 10/2012, of 20 November 2012, regulating fixed fees in the context of the administration of justice and the National Institute of Toxicology and Forensic Science.
Article 93 of the Law on Corporations (LSC) recognizes the right to information of shareholders and regulates separately limited liability companies (article 196) and public limited companies (article 197).
Some of the financing measures the Entrepreneurs Law introduces to support investments in Spain include the refinancing agreement, the procedure for appointment of an independent expert, the public deed mortgages and bonds of internationalization and the minimum share capital of mutual guarantee companies (MGC).
By means of Law 14/2013 (“Entrepreneurs Law”), Spain has undertaken different reforms to create growth and employment and promote the initiation of entrepreneurial activities. Some of these measures include the constitution of a company by public deed, the incorporation of a limited liability company using the DUE and the CIRCE systems without using their model bylaws and the discharge and onset of the activity of individual entrepreneurs and commercial corporations.
The commercial measures to support entrepreneurs in Spain include simplifications for electronically legalizing corporate books, issuing electronic powers of attorney, organizing records and the requirements for economic and financial information.