From the course: How to Read a Business Contract
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What could negatively affect your reputation
From the course: How to Read a Business Contract
What could negatively affect your reputation
- Onto the third core area that could be a deal breaker for you. Things that negatively impact your reputation, like the business and money deal breakers, are highly subjective. A requirement to provide a guarantee of a certain outcome guarantees the performance of certain obligations by another party. This could impact your reputation in that any failures, whether it be by the third party or in relation to the product or service guaranteed, could lead to negative connotations like you being unreliable or untrustworthy. Imagine a skincare company creates a product that is known to clear acne in under two weeks. A large retail brand wants to stock this product throughout its stores and want the skincare company to include a guarantee that acne will be clear within two weeks or your money back. As outcomes differ from user to user, supplying a guarantee would be a no-no. Instead a disclaimer should be included stating that results may differ. In a similar vein, agreeing to unrealistic…
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