The License Purchase Agreement is a vital legal instrument used in Malaysian commercial transactions where one party (licensor) grants another party (licensee) the right to use specific intellectual property, software, technology, or other licensed materials. This agreement type is essential for businesses operating in Malaysia who need to formalize licensing arrangements while ensuring compliance with local laws, including the Contracts Act 1950, Copyright Act 1987, and other relevant legislation. The document typically includes detailed provisions on license scope, usage rights, restrictions, payment terms, warranties, and termination conditions. It's particularly important in technology transactions but applies across various industries where intellectual property licensing is required. The agreement should be tailored to meet specific business needs while maintaining enforceability under Malaysian law.
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1. Parties: Identifies and provides full details of the licensor and licensee, including registration numbers for companies
2. Background: Explains the context of the agreement, including brief description of the licensed product/software and the parties' intentions
3. Definitions: Defines key terms used throughout the agreement
4. License Grant: Specifies the scope, nature, and type of license being granted
5. License Fees and Payment Terms: Details the financial terms, payment schedule, and payment methods
6. Delivery and Implementation: Outlines the process for delivering the licensed product and any implementation requirements
7. Use Restrictions: Specifies limitations and restrictions on the use of the licensed product
8. Intellectual Property Rights: Confirms ownership of IP and handles any IP-related matters
9. Confidentiality: Defines confidential information and obligations regarding its protection
10. Term and Termination: Specifies the duration of the agreement and termination provisions
11. Warranties and Representations: States the warranties provided and representations made by each party
12. Limitation of Liability: Sets out the extent and limitations of each party's liability
13. General Provisions: Includes standard boilerplate clauses such as governing law, notices, and assignment
1. Maintenance and Support: Include when ongoing technical support or maintenance services are part of the license purchase
2. Data Protection: Include when personal data processing is involved in the licensed product's use
3. Source Code Escrow: Include for software licenses where source code protection is required
4. Training: Include when training services are part of the license purchase
5. Export Control: Include when the licensed product is subject to export control regulations
6. Service Level Agreement: Include when specific performance levels are guaranteed for the licensed product
7. Audit Rights: Include when the licensor needs rights to audit licensee's use of the product
1. Schedule 1 - Licensed Product Description: Detailed technical specifications and description of the licensed product
2. Schedule 2 - License Fees and Payment Schedule: Detailed breakdown of fees, payment milestones, and payment terms
3. Schedule 3 - Service Level Agreement: Detailed performance metrics and service levels if applicable
4. Schedule 4 - Support and Maintenance Terms: Detailed support and maintenance provisions if included
5. Schedule 5 - Acceptable Use Policy: Detailed rules and guidelines for using the licensed product
6. Appendix A - Technical Requirements: Technical specifications required for implementing the licensed product
7. Appendix B - Implementation Plan: Detailed timeline and steps for implementing the licensed product
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