The Limited License Agreement is essential for businesses seeking to monetize their intellectual property while maintaining control over its use. This document, structured under Singapore law, provides a framework for granting specific, limited rights while protecting the licensor's ownership and interests. It's particularly relevant in today's knowledge-based economy where intellectual property transactions are increasingly common. The agreement typically includes detailed terms about usage rights, restrictions, payment terms, and quality control measures, all within Singapore's comprehensive intellectual property legal framework.
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1. Parties: Identification of licensor and licensee with full legal names and addresses
2. Background: Context of the agreement and brief description of the intellectual property being licensed
3. Definitions: Key terms used throughout the agreement
4. Grant of License: Specific rights being granted, including scope and limitations
5. Term and Termination: Duration of the license and conditions for termination
6. Payment Terms: License fees, royalties, and payment schedule
7. Intellectual Property Rights: Ownership and protection of IP rights
8. Confidentiality: Protection of confidential information
1. Territory Restrictions: Geographic limitations of the license - used when license is limited to specific regions
2. Quality Control: Standards and requirements for licensed products/services - used when licensing involves manufacturing or service delivery
3. Sub-licensing Rights: Rights to grant licenses to third parties - used when sublicensing might be permitted
4. Source Code Escrow: Terms for source code access and protection - specifically for software licenses
1. Schedule 1: Licensed IP: Detailed description of licensed intellectual property
2. Schedule 2: Technical Specifications: Technical details and requirements
3. Schedule 3: Fee Schedule: Detailed breakdown of fees and payment terms
4. Schedule 4: Quality Standards: Specific quality requirements and metrics
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