First Commercial Sale definition: Copy, customize, and use instantly
Introduction
The term "First Commercial Sale" refers to the initial sale of a product or service that is made to a customer in the normal course of business, typically marking the point at which the product or service becomes commercially available for widespread use or distribution. This sale is significant in determining the beginning of the commercialization process for a product, often triggering certain legal, contractual, or financial obligations.
Below are various examples of how "First Commercial Sale" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "First Commercial Sale" as the initial sale of a product or service
This definition ties "First Commercial Sale" to the beginning of commercialization.
"First Commercial Sale" means the initial sale of a product or service to a customer in the ordinary course of business, which marks the point at which the product or service is first commercially available for purchase or use.
Definition of "First Commercial Sale" as the first sale made in the course of business
This definition connects "First Commercial Sale" to business transactions.
"First Commercial Sale" refers to the first sale made by the seller of a product or service in the ordinary course of its business, establishing the commercial viability of the product or service.
Definition of "First Commercial Sale" as the point when a product becomes commercially available
This definition links "First Commercial Sale" to product availability.
"First Commercial Sale" means the point at which a product or service is sold to a customer, signifying its commercial availability and marking the transition from development or testing to full-scale commercialization.
Definition of "First Commercial Sale" as the first sale made to an end customer
This definition ties "First Commercial Sale" to end customers.
"First Commercial Sale" refers to the first sale made to an end customer, as opposed to sales made for testing, research, or internal use, thereby marking the beginning of the product’s market launch.
Definition of "First Commercial Sale" as the sale to initiate revenue generation
This definition connects "First Commercial Sale" to revenue generation.
"First Commercial Sale" means the first sale that generates revenue from a product or service, marking the point at which the seller begins to generate commercial income from the offering.
Definition of "First Commercial Sale" as the sale marking the transition from development to sales
This definition links "First Commercial Sale" to development and sales.
"First Commercial Sale" refers to the first sale made after a product or service transitions from the development phase to the sales phase, indicating its readiness for the broader market.
Definition of "First Commercial Sale" as the initial sale of a product after regulatory approval
This definition ties "First Commercial Sale" to regulatory approval.
"First Commercial Sale" means the first sale of a product or service after receiving regulatory approval, allowing it to be legally sold or distributed to customers in the marketplace.
Definition of "First Commercial Sale" as the first sale under an agreement or licensing arrangement
This definition connects "First Commercial Sale" to agreements or licensing.
"First Commercial Sale" refers to the first sale made under an agreement, such as a licensing or distribution contract, marking the point at which the product or service is first commercialized in accordance with the terms of the agreement.
Definition of "First Commercial Sale" as the initiation of commercial distribution for a product
This definition links "First Commercial Sale" to distribution.
"First Commercial Sale" means the sale that initiates the commercial distribution of a product or service, marking its introduction into the marketplace and the beginning of its commercial availability to consumers.
Definition of "First Commercial Sale" as the initial sale triggering payment or royalty obligations
This definition ties "First Commercial Sale" to financial obligations.
"First Commercial Sale" refers to the first sale that triggers payment obligations, such as royalties, milestone payments, or revenue-sharing arrangements, under the terms of a contract or licensing agreement.
Definition of "First Commercial Sale" as the initial transaction involving a product or service
This definition ties "First Commercial Sale" to product or service transactions.
"First Commercial Sale" refers to the first transaction in which a product or service is sold to a customer in the marketplace, marking the start of its commercial availability and distribution.
Definition of "First Commercial Sale" as the first market introduction of a product
This definition connects "First Commercial Sale" to market introduction.
"First Commercial Sale" means the first market introduction of a product or service, where it is sold in a commercial context to customers outside of development, trials, or internal use.
Definition of "First Commercial Sale" as the first sale under a new distribution or sales strategy
This definition links "First Commercial Sale" to new sales strategies.
"First Commercial Sale" refers to the first sale made under a new distribution or sales strategy, signifying the shift from internal testing or limited release to full-scale commercial distribution.
Definition of "First Commercial Sale" as the first customer purchase of a newly launched product
This definition ties "First Commercial Sale" to product launch.
"First Commercial Sale" means the first purchase made by a customer of a newly launched product or service, marking the start of its commercial success and widespread availability.
Definition of "First Commercial Sale" as the commencement of commercial transactions for a product
This definition connects "First Commercial Sale" to the start of commercial transactions.
"First Commercial Sale" refers to the commencement of commercial transactions involving a product or service, marking the point when it becomes available for purchase by the general public.
Definition of "First Commercial Sale" as the first payment received for a product or service
This definition links "First Commercial Sale" to payments.
"First Commercial Sale" means the first payment received for a product or service, indicating that the product is officially available for sale and the company begins generating revenue from it.
Definition of "First Commercial Sale" as the initial sale of a product that leads to revenue recognition
This definition ties "First Commercial Sale" to revenue recognition.
"First Commercial Sale" refers to the initial sale of a product or service that leads to the recognition of revenue in financial statements, marking the point when the product becomes an income-generating asset.
Definition of "First Commercial Sale" as the first sale triggering a contractual obligation
This definition connects "First Commercial Sale" to contractual obligations.
"First Commercial Sale" means the first sale that triggers specific contractual obligations, such as royalty payments, milestone payments, or the activation of a revenue-sharing agreement.
Definition of "First Commercial Sale" as the beginning of a product's commercial lifecycle
This definition links "First Commercial Sale" to the product lifecycle.
"First Commercial Sale" refers to the beginning of a product's commercial lifecycle, when it is first sold to customers in the marketplace, and the product moves from development or pilot phases to full commercial availability.
Definition of "First Commercial Sale" as the sale marking the transition from production to distribution
This definition ties "First Commercial Sale" to production and distribution.
"First Commercial Sale" means the sale that marks the transition from production to distribution, when a product or service is officially available in the market for customers to purchase.
Definition of "First Commercial Sale" as the first transaction for a commercially available product
This definition connects "First Commercial Sale" to product availability.
"First Commercial Sale" refers to the first transaction for a product or service that has been made commercially available, signifying that the product has moved from development or trial stages to regular sales.
Definition of "First Commercial Sale" as the first sale of a product to a third-party customer
This definition ties "First Commercial Sale" to third-party customers.
"First Commercial Sale" means the first sale of a product or service to a third-party customer, marking the point at which the product is made available to external buyers in a commercial setting.
Definition of "First Commercial Sale" as the initial revenue-generating transaction for a product
This definition links "First Commercial Sale" to revenue generation.
"First Commercial Sale" refers to the initial revenue-generating transaction for a product or service, marking the point at which the product starts contributing to the business’s income stream.
Definition of "First Commercial Sale" as the launch sale for a newly developed product
This definition connects "First Commercial Sale" to product launch.
"First Commercial Sale" means the sale made during the launch of a newly developed product, when the product first enters the market and is sold to the public.
Definition of "First Commercial Sale" as the first transaction after product development completion
This definition ties "First Commercial Sale" to product development.
"First Commercial Sale" refers to the first transaction that occurs after the completion of product development, signifying that the product is ready for commercial distribution and sale.
Definition of "First Commercial Sale" as the first sale marking the transition from private to public availability
This definition connects "First Commercial Sale" to availability.
"First Commercial Sale" means the first sale marking the transition of a product from private testing or limited availability to being publicly available in the market for general purchase.
Definition of "First Commercial Sale" as the sale that begins the product’s market penetration
This definition links "First Commercial Sale" to market penetration.
"First Commercial Sale" refers to the sale that begins the product’s market penetration, establishing its place in the marketplace and initiating the process of reaching broader customer segments.
Definition of "First Commercial Sale" as the sale that triggers commercial distribution
This definition ties "First Commercial Sale" to distribution.
"First Commercial Sale" means the first sale that triggers the broader commercial distribution of a product, marking the start of large-scale availability in the market.
Definition of "First Commercial Sale" as the first sale marking the start of revenue collection
This definition connects "First Commercial Sale" to revenue collection.
"First Commercial Sale" refers to the first sale that marks the start of revenue collection for a product, signaling the successful commercialization of the offering and its entry into the revenue-generating phase.
Definition of "First Commercial Sale" as the initial sale establishing the market value of a product
This definition ties "First Commercial Sale" to market value.
"First Commercial Sale" means the initial sale that establishes the market value of a product, setting the pricing benchmark for future transactions and creating a commercial reference for the product.
Definition of "First Commercial Sale" as the first sale made to a paying customer
This definition ties "First Commercial Sale" to paying customers.
"First Commercial Sale" refers to the first sale made to a paying customer, marking the product or service's official entry into the commercial market and the beginning of its commercial lifecycle.
Definition of "First Commercial Sale" as the inaugural sale after product development
This definition connects "First Commercial Sale" to product development.
"First Commercial Sale" means the inaugural sale of a product or service that occurs after the completion of its development phase, signifying the transition from development to full market availability.
Definition of "First Commercial Sale" as the first transaction that initiates product distribution
This definition links "First Commercial Sale" to product distribution.
"First Commercial Sale" refers to the first transaction that initiates the distribution process for a product, signifying that the product is now commercially available for widespread distribution to customers.
Definition of "First Commercial Sale" as the initial product sale in a commercial context
This definition ties "First Commercial Sale" to the commercial context.
"First Commercial Sale" means the initial product sale in a commercial context, marking the point at which a product moves beyond trials or internal use and becomes available to the broader market.
Definition of "First Commercial Sale" as the sale marking the official start of market operations
This definition connects "First Commercial Sale" to market operations.
"First Commercial Sale" refers to the sale that marks the official start of market operations for a product, signaling that the product is now available for purchase by the public in a commercial setting.
Definition of "First Commercial Sale" as the first payment received for a newly launched product
This definition ties "First Commercial Sale" to payments for new products.
"First Commercial Sale" means the first payment received for a newly launched product, indicating that the product has entered the market and is beginning to generate revenue for the company.
Definition of "First Commercial Sale" as the first product sold after completing regulatory approvals
This definition connects "First Commercial Sale" to regulatory approval.
"First Commercial Sale" refers to the first sale of a product or service after receiving regulatory approval, allowing the product to be legally sold in the market and generating revenue.
Definition of "First Commercial Sale" as the sale that starts a revenue stream for a product
This definition ties "First Commercial Sale" to the creation of a revenue stream.
"First Commercial Sale" refers to the first sale that starts a revenue stream for a product, signifying that the product has entered the market and the business begins generating income from its sales.
Definition of "First Commercial Sale" as the first sale following a product's official market launch
This definition connects "First Commercial Sale" to a product's launch.
"First Commercial Sale" means the first sale following a product’s official market launch, marking the point at which the product is available to a broader audience beyond initial trials or limited distribution.
Definition of "First Commercial Sale" as the initial revenue-generating transaction for a new product
This definition links "First Commercial Sale" to revenue generation.
"First Commercial Sale" refers to the initial revenue-generating transaction for a new product, signaling the product's transition from development to commercialization and its ability to generate financial returns.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.