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Royalty Split Agreement

Royalty Split Agreement Template for Denmark

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Royalty Split Agreement

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Document background
The Royalty Split Agreement is a crucial document used when multiple parties need to formalize their arrangement for sharing revenues generated from intellectual property rights or licensed content. This agreement, governed by Danish law, is particularly important in situations involving creative works, technological innovations, or other licensable assets where ongoing revenue sharing is required. It provides a detailed framework for calculating and distributing royalties, establishing reporting mechanisms, and ensuring transparency in revenue allocation. The document addresses key aspects such as payment schedules, audit rights, and dispute resolution while complying with Danish legal requirements, including the Danish Contracts Act and relevant intellectual property legislation. It's commonly used in various industries including entertainment, technology, and publishing, where revenue sharing from intellectual property exploitation is common.
Suggested Sections

1. Parties: Identification of all parties to the agreement including full legal names, addresses, and registration details

2. Background: Context of the agreement, relationship between parties, and brief description of the underlying rights or works

3. Definitions: Detailed definitions of key terms including 'Royalties', 'Net Revenue', 'Intellectual Property Rights', and other relevant terms

4. Rights and Ownership: Clear statement of intellectual property ownership and licensed rights

5. Royalty Calculations: Method for calculating royalties, including basis for calculation and specific percentages

6. Payment Terms: Timing, method, and currency of royalty payments, including minimum payment thresholds if applicable

7. Accounting and Reports: Requirements for financial reporting, record-keeping, and audit rights

8. Term and Termination: Duration of the agreement and circumstances for termination

9. Confidentiality: Obligations regarding confidential information shared between parties

10. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for disputes

Optional Sections

1. Territory: Define geographical limitations of the agreement if rights are territory-specific

2. Minimum Guarantees: Include when there are guaranteed minimum royalty payments required

3. Sub-licensing Rights: Include when parties have the right to sub-license and how resulting royalties are handled

4. Marketing and Promotion: Include when parties have specific promotional obligations or rights

5. Dispute Resolution: Alternative dispute resolution procedures beyond court jurisdiction

6. Currency Exchange: Include for international agreements with multiple currencies

7. Force Majeure: Include when parties want specific provisions for unforeseeable circumstances

8. Assignment Rights: Include when transfer of rights needs specific regulation

Suggested Schedules

1. Schedule A - Royalty Calculation Formula: Detailed breakdown of royalty calculations, including examples

2. Schedule B - Licensed Rights: Detailed description of the intellectual property or rights subject to royalties

3. Schedule C - Reporting Template: Standard format for regular royalty reports

4. Schedule D - Payment Details: Banking and payment information for all parties

5. Schedule E - Authorized Sub-licensees: List of approved sub-licensees if applicable

6. Appendix 1 - Revenue Categories: Breakdown of different revenue types and applicable royalty rates

7. Appendix 2 - Audit Procedures: Detailed procedures for conducting royalty audits

Authors

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Relevant legal definitions
Agreement
Effective Date
Royalties
Gross Revenue
Net Revenue
Licensed Rights
Licensed Property
Intellectual Property Rights
Territory
Term
Accounting Period
Payment Date
Minimum Guarantee
Confidential Information
Affiliate
Business Day
Force Majeure Event
Quarter
Reporting Period
Revenue Share
Distribution Channel
Exploitation
Sub-licensee
Audit Period
Material Breach
Net Sales
Collection Period
Deductions
Release
Commercial Exploitation
Marketing Materials
Distribution Rights
Third Party
Permitted Use
Initial Term
Renewal Term
Intellectual Property
Rights Owner
Related Rights
Operating Expenses
Distribution Costs
Advance
Recoupment
Revenue Stream
Payment Method
Authorized Representative
Working Day
Currency
Exchange Rate
Governing Law
Relevant Industries
Relevant Teams
Relevant Roles
Industries
Danish Contracts Act (Aftaleloven): Fundamental law governing contract formation, validity, and enforcement in Denmark. Essential for establishing the basic framework of the royalty agreement.
Danish Copyright Act (Ophavsretsloven): Regulates intellectual property rights and their commercial exploitation, including the right to receive royalties from copyrighted works.
Danish Competition Act (Konkurrenceloven): Ensures the royalty split agreement doesn't contain anti-competitive clauses or create market dominance issues.
Danish Tax Assessment Act (Ligningsloven): Governs the taxation of royalty income and specific provisions for royalty payments between parties.
Danish Act on Private International Law: Relevant for international royalty agreements, determining jurisdiction and applicable law in cross-border disputes.
Danish Companies Act (Selskabsloven): Applicable if any parties to the agreement are Danish companies, governing corporate capacity to enter into agreements.
Danish Interest Act (Renteloven): Governs interest payments on late royalty payments and other monetary obligations under the agreement.
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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