A Royalty Share Agreement is essential when parties wish to establish a formal arrangement for sharing revenues generated from intellectual property exploitation in the Philippines. This document is commonly used when an IP owner grants rights to another party to use, manufacture, distribute, or commercialize their intellectual property in exchange for royalty payments. The agreement must comply with Philippine intellectual property laws, particularly the Intellectual Property Code (Republic Act No. 8293) and relevant tax regulations. It typically includes detailed provisions for calculating royalties, payment schedules, audit rights, and reporting requirements. The document is crucial for protecting both the IP owner's rights and ensuring fair compensation while providing the licensee with clear operational guidelines. This type of agreement is particularly relevant in sectors involving technology transfer, content creation, manufacturing, or any situation where intellectual property commercialization generates revenue that needs to be shared among parties.
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1. Parties: Identification of all parties to the agreement, including their legal status and principal places of business
2. Background: Context of the agreement, including the nature of the intellectual property or assets subject to royalties
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Grant of Rights: Specific rights being granted and the scope of permitted use
5. Calculation of Royalties: Formula and methodology for calculating royalty payments
6. Payment Terms: Payment frequency, method, currency, and timing of royalty payments
7. Reporting and Auditing: Requirements for financial reporting and rights to audit
8. Intellectual Property Rights: Confirmation of ownership and protection of IP rights
9. Representations and Warranties: Standard warranties regarding ownership, authority to contract, and non-infringement
10. Term and Termination: Duration of the agreement and circumstances for termination
11. Confidentiality: Protection of confidential information shared during the agreement
12. Governing Law: Specification of Philippine law as governing law and jurisdiction
13. Dispute Resolution: Process for resolving disputes, including meditation and arbitration procedures
1. Minimum Guarantee: Used when there's a guaranteed minimum royalty payment, regardless of actual sales or usage
2. International Rights: Include when the agreement covers territories outside the Philippines
3. Quality Control: Necessary when the agreement involves manufacturing or production of goods
4. Marketing and Promotion: Include when parties have specific marketing obligations or restrictions
5. Sub-licensing Rights: Used when the licensee is permitted to sub-license the rights
6. Technology Transfer Provisions: Required when the agreement involves transfer of technical knowledge or technology
7. Competition Compliance: Include when there are potential competition law implications
1. Schedule A - Licensed IP: Detailed description of the intellectual property subject to royalties
2. Schedule B - Royalty Rates: Detailed breakdown of royalty rates, including any variable rates or tiers
3. Schedule C - Calculation Methods: Detailed methodology for calculating royalties, including examples
4. Schedule D - Reporting Template: Standard format for periodic royalty reports
5. Schedule E - Territories: List of geographical territories covered by the agreement
6. Appendix 1 - Audit Procedures: Detailed procedures for conducting royalty audits
7. Appendix 2 - Approved Sub-licensees: List of pre-approved sub-licensees, if applicable
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