Blue Umbrella Blue Umbrella Status
Partner Risk Assessment and Due Diligence (PRADD)
Nature of Business Definitions

Agent

An agent is a person or business who is authorized to act on behalf of another person or business, known as principal. Agents can bind a principal to legal obligations and can create liability for a principal by taking actions within the scope of the agent’s authority.

Business Development Consultant

A business development consultants are professionals who help businesses grow, innovate, and improve their performance.

Customers

A customer is an individual or organization that purchase goods or services from a business. Here, at Dolby, a customer is anyone we sell to/directly invoice- any “Sold To” account is considered a customer. All customers at Dolby are set up in SAP.

Customs Broker

A customs broker is a licensed individual or firm who helps business to meet regulatory requirements for importing and exporting goods. They serve as intermediaries between importers/exporters and customs authorities.

Dealers

Dealers signs an agreement with Dolby and receives a discount to purchase the equipment. They resell the equipment for end user customers such as an Exhibitors. Dealers can receive commission from Dolby.

Distributors

A Dolby Distributor is a third-party company that is approved and appointed by Dolby to distribute Dolby’s products to retailers, resellers, or sometimes directly to end customers.

Exhibitors

Exhibitor is a company who develops and operates one or more theaters that incorporates Dolby’s brand and technologies and utilizes Dolby’s expertise.

Freight Forward

A freight forward is a company that manages logistics and transportation details on behalf of the client. It often coordinates multiple steps and carriers (whether by sea, air, rail, or truck) to ensure a smooth and timely delivery of the clients’ goods from one location to another.

Intermediary

A business intermediary is a third-party individual or company that acts as a liaison between a manufacturer or producer and a consumer.

Licensor

A licensor is an individual or company that owns certain IP and grants permission to another party, known as the licensee, to use this IP under certain conditions. In our context, Dolby is generally the licensor who authorizes licensees to use Dolby’s brand and/or technologies in its products.

OEM (Original Equipment Manufacturer) and ODM (Original Design Manufacturer)

OEM and ODM act very similarly. They are companies that license Dolby’s audio or visual technologies to incorporate into its own products, such as computers, smartphones, televisions, and audio equipment.

Reseller

A reseller is an authorize business or individual that buys products or services from Dolby and then sells them to their own customers.

Service Provider

A service provider is an organization that provides services, such as consulting, legal, real estate, communications, storage, and processing services, to Dolby. It typically delivers ongoing support and expertise.

Vendor

A Vendor is often the last party in a supply change who typically provides goods and/or services. The Requester (or purchaser) is ultimately the consumer of the product and/or service. This is usually a business to consumer (B2C) relationship. For example, a janitorial service provider who is contracted to clean the office building is a 'vendor.'

Supplier

A Supplier is often first in the supply chain, typically providing goods or services that are resold by the Requester (or purchaser, in this case Dolby). This is usually a business to business (B2B) relationship. For example, a company who provides Dolby its cinema equipment, is a 'supplier.’