Regional Rugby Wales, the organisation that represents the interests of the four Welsh regions, has been renamed Pro Rugby Wales.
The £60m deal ended 18 months of conflict between the two camps.
Mark Davies, chief executive of Pro Rugby Wales, said the regions were now on "a more stable commercial platform.
"Pro Rugby Wales simply describes what we are and what we do," he added.
"What we actually represent is the professional game in Wales - the four Welsh professional squads who play in the Pro 12 league.
"For any potential commercial partner, that's a clear position to understand."
The Rugby Services Agreement, signed until 2020, is aimed at keeping star players in Wales.
It also means the regions receive a shared £2m increase in overall funding, to £8.7m, from the union as well as a one-off payment of £500,000.
The new European Champions Cup and Challenge Cup also help to support the Welsh regions' finances.
"The additional funding streams now in place will help us to focus on building strength in depth in our squads and further improve our development and retention of Welsh talent," said Davies.