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Software Royalty Agreement

Software Royalty Agreement Template for Belgium

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Key Requirements PROMPT example:

Software Royalty Agreement

"I need a Software Royalty Agreement under Belgian law for a cloud-based accounting software, where the licensee will pay 15% of gross revenue generated from end-user subscriptions, with quarterly reporting requirements and the right to sublicense in the Benelux region."

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Document background
The Software Royalty Agreement is essential for businesses seeking to monetize their software through licensing while retaining ownership rights. This agreement type is commonly used when a software owner wants to grant usage rights to another party in exchange for recurring royalty payments based on various metrics such as user numbers, revenue generated, or usage volume. Under Belgian law, the agreement must comply with specific requirements of the Belgian Code of Economic Law, particularly regarding intellectual property rights and commercial contracts. The document typically includes comprehensive details about the software, usage rights, territorial restrictions, royalty calculations, reporting obligations, and audit rights. It's particularly important in cross-border transactions where Belgian law provides the governing framework for the relationship between the software owner and licensee.
Suggested Sections

1. Parties: Identification and details of the licensor and licensee

2. Background: Context of the agreement, including brief description of the software and business relationship

3. Definitions: Definitions of key terms used throughout the agreement

4. Grant of License: Scope and nature of the software license, including territory and usage rights

5. Intellectual Property Rights: Confirmation of ownership and protection of IP rights in the software

6. Royalty Payments: Structure of royalty calculations, payment terms, and currency

7. Reporting and Audit Rights: Requirements for usage reporting and licensor's audit rights

8. Confidentiality: Protection of confidential information exchanged under the agreement

9. Term and Termination: Duration of agreement and circumstances for termination

10. Warranties and Indemnities: Warranties regarding software ownership and performance, indemnification obligations

11. Limitation of Liability: Limitations on parties' liability under Belgian law

12. Data Protection: GDPR compliance and data processing obligations

13. Governing Law and Jurisdiction: Confirmation of Belgian law application and jurisdiction

14. General Provisions: Standard provisions including notices, assignment, and entire agreement

Optional Sections

1. Source Code Escrow: Provisions for source code escrow arrangements if required for business continuity

2. Support and Maintenance: Terms for ongoing technical support and maintenance if included in the arrangement

3. Training and Implementation: Provisions for software implementation and user training if offered

4. Multi-territory Licensing: Additional terms for licensing across multiple territories or jurisdictions

5. Third-Party Software: Provisions regarding third-party software components and associated rights

6. Customization Rights: Terms governing any permitted customization or modification of the software

7. Change Control: Procedures for managing changes to the software or agreement terms

8. Distribution Rights: Terms for any sub-licensing or distribution rights granted to the licensee

Suggested Schedules

1. Schedule 1 - Software Description: Detailed technical specifications and functionality of the licensed software

2. Schedule 2 - Royalty Calculations: Detailed methodology for calculating royalties, including examples

3. Schedule 3 - Reporting Format: Template and requirements for periodic royalty reports

4. Schedule 4 - Service Levels: Performance metrics and service level commitments if applicable

5. Schedule 5 - Territory Definition: Detailed description of licensed territories and any territory-specific terms

6. Appendix A - Technical Requirements: Minimum technical requirements for software operation

7. Appendix B - Security Requirements: Security standards and requirements for software usage

8. Appendix C - Approved Sub-licensees: List of approved sub-licensees if sub-licensing is permitted

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Software
Licensed Software
Documentation
Intellectual Property Rights
Royalties
Gross Revenue
Net Revenue
License Fee
Territory
Effective Date
Initial Term
Renewal Term
Confidential Information
Source Code
Object Code
API
Updates
Upgrades
Modifications
Derivative Works
End User
End User License Agreement (EULA)
Implementation Services
Maintenance Services
Support Services
Business Day
Quarter
Year
Reporting Period
Audit Period
Licensed Users
Authorized Users
Installation
License Key
Third Party Software
Background IP
Foreground IP
Technical Specifications
Service Levels
Critical Error
Major Error
Minor Error
Acceptance Tests
Acceptance Criteria
Go-Live Date
Legacy Systems
Integration
Data Protection Laws
Personal Data
Processing
Security Requirements
Escrow Agent
Escrow Materials
Release Events
Sub-license
Distribution Rights
Royalty Report
Payment Terms
Force Majeure Event
Intellectual Property Claim
Material Breach
Cure Period
Clauses
Interpretation
Definitions
License Grant
Intellectual Property Rights
Royalty Payments
Payment Terms
Reporting Requirements
Audit Rights
Software Delivery
Implementation
Technical Requirements
Service Levels
Support and Maintenance
Warranties
Indemnification
Limitation of Liability
Confidentiality
Data Protection
Term and Duration
Termination
Force Majeure
Assignment
Sub-licensing
Territory Restrictions
Non-Competition
Source Code Escrow
Change Control
Dispute Resolution
Governing Law
Notices
Entire Agreement
Severability
Third Party Rights
Compliance with Laws
Anti-Corruption
Export Control
Insurance
Security Requirements
Documentation
Training
Acceptance Testing
Integration
Modification Rights
Distribution Rights
Relevant Industries

Technology

Software Development

Information Technology

Financial Services

Healthcare Technology

Manufacturing

Telecommunications

E-commerce

Professional Services

Enterprise Software

Gaming and Entertainment

Educational Technology

Relevant Teams

Legal

Finance

Software Development

Product Management

Compliance

Revenue Operations

Business Development

Technology Licensing

Intellectual Property

Commercial Operations

Relevant Roles

Legal Counsel

Software Licensing Manager

Intellectual Property Attorney

Commercial Director

Chief Technology Officer

Software Development Manager

Finance Director

Compliance Officer

Business Development Manager

Contract Manager

Revenue Operations Manager

Technology Licensing Specialist

Chief Financial Officer

Head of Product

Industries
Belgian Code of Economic Law (Book XI - Intellectual Property): Governs intellectual property rights in Belgium, including software protection and licensing provisions
Belgian Civil Code (Book III - Contracts): Provides the fundamental framework for contract formation, validity, and enforcement in Belgium
Belgian Income Tax Code: Regulates the taxation of royalty payments and licensing fees in Belgium
EU General Data Protection Regulation (GDPR): Governs data protection and privacy requirements that may be relevant if the software processes personal data
EU Directive 2009/24/EC on Legal Protection of Computer Programs: Provides specific provisions for software copyright protection in the EU, implemented in Belgian law
Belgian Value Added Tax Code: Governs VAT implications for royalty payments and software licensing
Belgian Code of Private International Law: Relevant for cross-border aspects of the agreement and jurisdiction matters
EU Electronic Commerce Directive (2000/31/EC): Provides framework for electronic contracts and digital services in the EU, implemented in Belgian law
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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