A Royalty Bearing License is essential when one party wishes to monetize their intellectual property through licensing while maintaining ownership rights. This agreement type, governed by Singapore law, provides a comprehensive framework for ongoing commercial relationships between IP owners and users. It specifically details payment obligations, usage rights, and compliance requirements, making it particularly suitable for technology transfers, brand licensing, and content distribution. The document ensures compliance with Singapore's IP laws while protecting both parties' interests through clear terms and conditions.
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1. Parties: Identification and details of the licensor and licensee
2. Background: Context of the agreement and ownership of intellectual property
3. Definitions: Key terms used throughout the agreement including Licensed IP, Territory, Effective Date, Royalty Period
4. Grant of License: Scope and nature of the license being granted, including any restrictions on use
5. Royalty Payments: Payment terms, calculation methods, reporting requirements, audit rights, and payment schedule
6. Term and Termination: Duration of agreement, renewal terms, and conditions for termination
7. Intellectual Property Rights: Ownership declarations, protection measures, and infringement procedures
8. Representations and Warranties: Standard warranties regarding IP ownership, right to license, and non-infringement
9. Confidentiality: Protection of confidential information exchanged during the agreement
10. General Provisions: Standard boilerplate clauses including governing law, notices, and assignment
1. Territory Restrictions: Geographic limitations on license use, applicable when license is restricted to specific regions
2. Sublicensing Rights: Terms for granting sublicenses, included when sublicensing is permitted
3. Quality Control: Standards and inspection rights, essential for trademark or brand-related licenses
4. Source Code Escrow: Terms for source code protection and access, relevant for software licenses
5. Minimum Performance Requirements: Minimum sales or revenue targets, included when licensor wants to ensure commercial exploitation
1. Schedule 1: Licensed IP: Detailed description and specification of the licensed intellectual property
2. Schedule 2: Royalty Calculations: Detailed methodology for calculating royalties, including examples and formulas
3. Schedule 3: Technical Specifications: Technical details and requirements for the licensed technology or products
4. Schedule 4: Reporting Template: Standard format for royalty reporting and calculations
5. Schedule 5: Quality Standards: Detailed quality requirements and testing procedures where applicable
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