Exclusivity Agreement Law and Legal Definition

Exclusivity agreement means an agreement between two or more parties to purchase goods exclusively from the specified seller in the agreement. The prime ingredient of an exclusivity agreement is the understanding that the buyer will not obtain or solicit the goods provided by seller from anybody else for the time period of the agreement. Hence it dictates that seller is the exclusive supplier of such goods to buyer. This agreement generally happens in a vertical buyer/seller relationship where a buyer agrees to buy exclusively from the seller.