Co-universal algebras associated to product systems, and gauge-invariant uniqueness theorems

Let X be a product system over a quasi-lattice ordered group. Under mild hypotheses, we associate to X a C*-algebra which is co-universal for injective Nica covariant Toeplitz representations of X which preserve the gauge coaction. Under appropriate amenability criteria, this co-universal C*-algebra coincides with the Cuntz-Nica-Pimsner algebra introduced by Sims and Yeend. We prove two key uniqueness theorems, and indicate how to use our theorems to realise a number of reduced crossed products as instances of our co-universal algebras. In each case, it is an easy corollary that the Cuntz-Nica-Pimsner algebra is isomorphic to the corresponding full crossed product.