The Termination of License Agreement is essential when parties need to formally end their existing licensing arrangement under Malaysian law. This document is typically used when either party wishes to end the license relationship due to expiration, breach, mutual agreement, or changed business circumstances. It addresses crucial aspects such as the cessation of licensed rights, handling of intellectual property, confidential information protection, and financial settlements. The agreement ensures compliance with Malaysian contract law, intellectual property regulations, and industry-specific requirements. It provides clear guidance on post-termination obligations and helps prevent future disputes by clearly documenting the terms of separation.
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1. Parties: Identification of the Licensor and Licensee with full legal names and registered addresses
2. Background: Reference to the original License Agreement, its date, and brief context of the termination
3. Definitions: Key terms used in the agreement, including references to defined terms from the original License Agreement
4. Termination: Express termination of the License Agreement and specification of the effective date
5. Rights and Obligations Upon Termination: Immediate actions required by both parties, including cessation of license use and return/destruction of materials
6. Payment and Settlement: Details of any final payments, refunds, or financial settlements between the parties
7. Confidentiality: Ongoing obligations regarding confidential information post-termination
8. Intellectual Property: Confirmation of IP ownership and requirements for ceasing use of licensed IP
9. Release and Waiver: Mutual release from obligations under the original agreement, subject to specified exceptions
10. Survival Clauses: Provisions from the original agreement that continue after termination
11. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction
1. Transition Arrangements: Used when a transition period is needed for business continuity or practical implementation of termination
2. Third Party Rights: Include when termination affects rights of third parties or sub-licensees
3. Non-Compete Obligations: Include when post-termination competitive restrictions are required
4. Customer/Client Transfer: Required when arrangements needed for handling existing customers or clients
5. Tax Provisions: Include when termination has specific tax implications requiring address
6. Dispute Resolution: Include when specific dispute resolution mechanisms for termination-related disputes are needed
7. Public Announcements: Include when parties need to agree on public communications about the termination
1. Schedule 1 - Original License Agreement: Copy or details of the original License Agreement being terminated
2. Schedule 2 - Termination Timeline: Detailed timeline for implementing termination steps and deadlines
3. Schedule 3 - Settlement Calculations: Breakdown of any financial settlements, including calculations and adjustments
4. Schedule 4 - Licensed Materials: List of all licensed materials to be returned or destroyed
5. Schedule 5 - Transition Plan: Detailed plan for transition arrangements if applicable
6. Appendix A - Form of Release: Template for mutual release documentation
7. Appendix B - Confirmation of Compliance: Template for parties to confirm compliance with termination obligations
Authors
Relevant legal definitions
Clauses
Relevant Industries
Technology and Software
Manufacturing
Pharmaceuticals
Telecommunications
Media and Entertainment
Consumer Products
Industrial Products
Healthcare
Education
Research and Development
Retail
Financial Services
Relevant Teams
Legal
Intellectual Property
Compliance
Commercial
Business Development
Operations
Risk Management
Corporate Affairs
Technology
Finance
Relevant Roles
Legal Counsel
Intellectual Property Manager
Licensing Director
Business Development Manager
Contract Manager
Chief Legal Officer
Chief Technology Officer
Commercial Director
Compliance Officer
Risk Manager
Operations Director
General Manager
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