The Royalty Bearing License Agreement is a crucial document used when one party (licensor) wishes to grant another party (licensee) the right to use their intellectual property while maintaining ownership and receiving ongoing compensation through royalty payments. This agreement type is particularly relevant in the Indian market, where it must comply with various regulations including the Patents Act, Copyright Act, and Foreign Exchange Management Act. It's commonly used for technology transfers, brand licensing, patent commercialization, and software licensing arrangements. The document typically includes detailed provisions for royalty calculations, payment terms, quality control measures, and compliance requirements specific to Indian jurisdiction. It's essential for businesses looking to monetize their intellectual property or access licensed technology while ensuring proper protection and compensation mechanisms are in place.
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1. Parties: Identification of licensor and licensee with full legal names and addresses
2. Background: Context of the agreement, brief description of the intellectual property and parties' intentions
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Grant of License: Scope of license, including territory, exclusivity, and permitted uses
5. Royalty Payments: Royalty rates, calculation methods, payment terms, and reporting requirements
6. Intellectual Property Rights: Ownership confirmation, protection of IP rights, and handling of improvements
7. Quality Control: Standards, inspection rights, and quality assurance requirements
8. Representations and Warranties: Parties' assertions about their rights, authority, and IP ownership
9. Term and Termination: Duration, renewal options, and termination circumstances
10. Confidentiality: Protection of confidential information exchanged during the agreement
11. Record Keeping and Audit Rights: Requirements for maintaining records and licensor's audit rights
12. Indemnification: Mutual or unilateral indemnification obligations
13. Governing Law and Jurisdiction: Choice of law and dispute resolution mechanisms
14. General Provisions: Standard boilerplate clauses including notices, assignment, and amendments
1. Sub-licensing Rights: Include when licensee is permitted to sub-license the IP to third parties
2. Minimum Guarantee: Include when there's a minimum royalty guarantee requirement
3. Technology Transfer: Include when technical knowledge or support is part of the license
4. Export Control: Include for international licensing dealing with restricted technologies
5. Insurance: Include when specific insurance coverage is required for licensed activities
6. Source Code Escrow: Include for software licensing where source code protection is needed
7. Marketing and Promotion: Include when specific marketing obligations or restrictions apply
8. Competition Restrictions: Include when non-compete or territorial restrictions are necessary
1. Schedule 1 - Licensed IP: Detailed description of licensed intellectual property, including registration numbers
2. Schedule 2 - Royalty Rates: Detailed breakdown of royalty rates, including any variable rates or tiers
3. Schedule 3 - Technical Specifications: Technical requirements and standards for licensed products/services
4. Schedule 4 - Quality Control Procedures: Detailed quality control processes and acceptance criteria
5. Schedule 5 - Reporting Template: Format for regular royalty reports and sales information
6. Schedule 6 - Territory Definition: Detailed description of licensed territory including any exclusions
7. Appendix A - Approved Sub-licensees: List of pre-approved sub-licensees if applicable
8. Appendix B - Brand Guidelines: Guidelines for using licensed trademarks or branding
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