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Royalty Bearing Licence
"I need a Royalty Bearing Licence to allow a German manufacturer to use our patented technology in their automotive parts, with a 5% royalty on net sales and quarterly reporting requirements, starting from March 2025."
1. Parties: Identification and details of the licensor and licensee
2. Background: Context of the agreement and ownership of relevant IP rights
3. Definitions: Key terms used throughout the agreement
4. Grant of Rights: Scope of licence, territories, and field of use
5. Royalties: Payment terms, calculation methods, and reporting requirements
6. Duration and Termination: Term of agreement and circumstances for termination
7. Confidentiality: Protection of confidential information
8. Governing Law: Jurisdiction and applicable law
1. Quality Control: Standards for licensed products, used when physical goods are involved
2. Sub-licensing Rights: Terms for sub-licensing, if permitted
3. Improvements: Rights to technological improvements, relevant for technical licences
4. Export Controls: Required for international licensing arrangements
1. Licensed IP: Detailed list of intellectual property covered by the licence
2. Royalty Calculations: Detailed methodology for calculating royalties
3. Reporting Template: Standard format for royalty reports
4. Quality Standards: Technical specifications and quality requirements
Authors
Grant of Rights
Scope of Licence
Royalty Payments
Payment Terms
Reporting Requirements
Audit Rights
Quality Control
Confidentiality
Intellectual Property Rights
Improvements
Sub-licensing
Warranties and Representations
Indemnification
Term and Termination
Force Majeure
Assignment
Dispute Resolution
Governing Law
Notices
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