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Jeff Wood's company buys machine tools from large producers and sells them to several Midwestern manufacturing companies. The company Jeff works for carries inventories of the tools, which reduces capital requirements for the producers. Jeff's company is an example of a(n) ____ in a distribution channel.
Civil Liability
Civil Liability is the requirement to compensate for damages or to fulfill an obligation under civil law, as opposed to criminal liability.
Professional Services
Services provided by individuals with professional qualifications or expertise, such as legal advice, medical treatments, or accounting services.
Clients
Individuals, businesses, or entities that engage the professional services of another, such as lawyers, consultants, or financial advisors, based on a mutual agreement.
Third Parties
Individuals or entities who are not directly involved in a legal contract or agreement but may be affected by its outcomes.
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