Are your business agreements really protecting your interests? Here’s a cautionary tale to learn from.
Starbucks wanted to distribute its coffee in grocery stores. Because Kraft already had the distribution network in place for its food, Starbucks signed a contract to have Kraft handle its coffee too.
What was Starbucks’ mistake?
Since the contract was designed to last forever, Starbucks had to pay Kraft almost $3 billion to walk away from the deal.
Related Article – B2B Contracts – How To Avoid 4 Common Mistakes
Times change, people change, and so do your business needs. Plan accordingly.
That’s why the business agreements our firm prepares are designed to protect clients now and give them options in the future when circumstances change. To learn more, check out our Business Contract Legal Protection Package.