1. A formal agreement between parties (typically nations or organizations) that defines, establishes, or regulates the rights, boundaries, or control of a specific geographic area or territory
The two countries signed a territorial agreement to resolve their border dispute.
Os dois países assinaram um acordo territorial para resolver sua disputa fronteiriça.
2. In business, an agreement that grants exclusive rights to distribute products or services within a defined geographic region
The company entered into a territorial agreement with the distributor for the South American market.
A empresa firmou um acordo territorial com o distribuidor para o mercado sul-americano.