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Developing a Completely New Product to Take Advantage of a Unique

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Developing a completely new product to take advantage of a unique foreign opportunity is called product:


Definitions:

Browsewrap Agreement

An online agreement where acceptance of terms and conditions is implied through the use of the website, without requiring an explicit agreement from the user.

Counteroffer

An offer made in response to another offer, rejecting the original offer and presenting new terms for an agreement.

Option

A separate contract in which an offeror agrees not to revoke her offer for a stated period of time in exchange for some valuable consideration.

Reasonable Time

A period that is fair and appropriate given the circumstances, often used in contracts to define a period for the performance of an obligation.

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