All Countries
Commercial
Business License Agreement

Business License Agreement Template for Nigeria

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Business License Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Business License Agreement

"I need a Business License Agreement under Nigerian law for granting an exclusive license to a local manufacturing company to produce and distribute our patented agricultural equipment in West Africa, with quarterly royalty payments of 5% of net sales."

Celebrated by
Collaborations with
Investors
Document background
The Business License Agreement is a crucial legal instrument used in Nigerian business operations when one entity wishes to grant another the right to use its intellectual property, technology, products, or services. This document is essential for companies operating in Nigeria who need to formalize licensing arrangements while ensuring compliance with local regulations, including the Companies and Allied Matters Act (CAMA) 2020, Nigerian Investment Promotion Commission Act, and relevant intellectual property laws. It's particularly important for international companies entering the Nigerian market or local companies expanding their operations through licensing arrangements. The agreement typically includes detailed provisions for payment terms, quality control, regulatory compliance, and dispute resolution mechanisms specific to the Nigerian legal context.
Suggested Sections

1. Parties: Identification of the licensor and licensee with full legal names and registered addresses

2. Background: Context of the agreement, including brief description of the business and purpose of the license

3. Definitions: Definitions of key terms used throughout the agreement

4. Grant of License: Detailed description of the license being granted, including scope, territory, and exclusivity

5. Term and Renewal: Duration of the license and conditions for renewal

6. License Fees and Payment Terms: Financial terms including license fees, royalties, payment schedule, and calculation methods

7. Obligations of the Licensor: Licensor's responsibilities including support, maintenance, and updates

8. Obligations of the Licensee: Licensee's responsibilities including usage restrictions and reporting requirements

9. Intellectual Property Rights: Protection and ownership of IP rights, including improvements and modifications

10. Quality Control: Standards and quality requirements for licensed products or services

11. Confidentiality: Protection of confidential information and trade secrets

12. Termination: Grounds for termination, notice requirements, and consequences

13. Post-Termination Obligations: Obligations of parties after termination including return of materials

14. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes

Optional Sections

1. Sub-licensing Rights: Include when licensee is permitted to sub-license to third parties

2. Technology Transfer: Include when agreement involves transfer of technical knowledge or technology

3. Export Controls: Include when licensed products or technology may be subject to export restrictions

4. Local Content Requirements: Include when license involves manufacturing or service delivery subject to Nigerian local content laws

5. Training and Support: Include when licensor will provide specific training or technical support

6. Marketing and Promotion: Include when agreement involves specific marketing obligations or restrictions

7. Insurance Requirements: Include when specific insurance coverage is required for licensed activities

8. Force Majeure: Include when parties want specific provisions for unforeseen circumstances

9. Anti-Corruption Compliance: Include when license involves government contracts or high-risk sectors

Suggested Schedules

1. Schedule 1: Licensed Property: Detailed description of licensed intellectual property, products, or services

2. Schedule 2: Territory: Detailed description of geographic territory where license is valid

3. Schedule 3: Fee Schedule: Detailed breakdown of all fees, royalties, and payment terms

4. Schedule 4: Quality Standards: Specific quality requirements and standards for licensed products or services

5. Schedule 5: Technical Specifications: Technical details and specifications of licensed technology or products

6. Schedule 6: Reporting Templates: Standard forms for required periodic reports

7. Appendix A: Required Regulatory Approvals: List of necessary Nigerian regulatory approvals and licenses

8. Appendix B: Approved Sub-contractors: List of approved sub-contractors or third parties, if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Applicable Laws
Affiliate
Business Day
Commencement Date
Confidential Information
Effective Date
Force Majeure Event
Governing Law
Intellectual Property Rights
License
Licensed Products
Licensed Technology
Licensed Territory
License Fees
Local Content Requirements
Material Breach
Net Sales
Nigerian Law
Notice
Party/Parties
Patent Rights
Quality Standards
Regulatory Approvals
Renewal Term
Royalties
Specifications
Sub-license
Technical Documentation
Term
Territory
Third Party
Trade Marks
Technology Transfer
Working Day
Year
Quarter
Improvement
Know-how
Proprietary Information
Subsidiary
Technical Services
Termination Date
User Documentation
Valid Claim
Clauses
Definitions
Grant of License
Territory
Exclusivity
Term and Renewal
License Fees
Royalty Payments
Payment Terms
Quality Control
Performance Standards
Intellectual Property Rights
Confidentiality
Warranties
Indemnification
Limitation of Liability
Regulatory Compliance
Local Content Requirements
Technology Transfer
Training and Support
Record Keeping
Audit Rights
Reports and Inspections
Sub-licensing
Assignment
Force Majeure
Termination
Post-Termination Obligations
Non-Competition
Dispute Resolution
Governing Law
Notices
Entire Agreement
Severability
Amendment
Waiver
Representations
Insurance
Compliance with Laws
Anti-Corruption
Foreign Exchange
Export Control
Relevant Industries

Technology and Software

Manufacturing

Pharmaceuticals

Oil and Gas

Telecommunications

Fast-Moving Consumer Goods

Agriculture

Entertainment and Media

Financial Services

Healthcare

Education

Retail and Distribution

Industrial Equipment

Construction

Relevant Teams

Legal

Business Development

Finance

Operations

Compliance

Intellectual Property

Commercial

Risk Management

International Operations

Strategy

Technical Operations

Corporate Affairs

Regulatory Affairs

Relevant Roles

Chief Executive Officer

Legal Counsel

Licensing Manager

Business Development Director

Commercial Director

Intellectual Property Manager

Compliance Officer

Contract Manager

Chief Financial Officer

Operations Director

Technology Transfer Officer

Risk Manager

General Counsel

Chief Operating Officer

Regional Manager

Industries
Companies and Allied Matters Act (CAMA) 2020: The primary legislation governing business operations in Nigeria, providing framework for company registration and business operations
Nigerian Investment Promotion Commission Act: Regulates foreign participation in Nigerian businesses and related licensing arrangements
Patents and Designs Act: Governs the protection of patents and industrial designs which may be subject to licensing
Copyright Act: Protects intellectual property rights and governs licensing of copyrighted materials
Federal Competition and Consumer Protection Act 2018: Regulates competition and prevents monopolistic practices in licensing agreements
National Office for Technology Acquisition and Promotion Act: Regulates the transfer of foreign technology and technical agreements including certain types of licenses
Companies Income Tax Act: Governs the taxation of income derived from licensing agreements and royalties
Value Added Tax Act: Applies to licensing transactions and related services
Foreign Exchange (Monitoring and Miscellaneous Provisions) Act: Regulates foreign exchange transactions related to international licensing agreements
Evidence Act 2011: Governs the admissibility of electronic signatures and documents in legal proceedings related to licensing agreements
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

Find the exact document you need

Model License Agreement

A template license agreement compliant with Nigerian law, suitable for various types of intellectual property and technology licensing transactions.

find out more

Business License Agreement

A Nigerian law-governed agreement establishing terms for licensing intellectual property, technology, products, or services between parties.

find out more

Standard Software License Agreement

Nigerian law-governed software license agreement establishing terms for software usage, including license rights, IP protection, and regulatory compliance.

find out more

Technical License Agreement

A Nigerian law-governed agreement for licensing technical knowledge and technology, ensuring compliance with NOTAP requirements and local regulations.

find out more

Standard License Agreement

A Nigerian law-governed agreement setting out terms for licensing intellectual property or technology rights between a licensor and licensee.

find out more

Digital License Agreement

A Nigerian law-governed agreement for licensing digital products, software, or content, ensuring compliance with local digital transaction and data protection regulations.

find out more

Service User Agreement

A comprehensive Service User Agreement template compliant with Nigerian law, designed to govern service provider-user relationships with built-in consumer and data protection measures.

find out more

User Service Agreement

A Nigerian law-governed agreement establishing terms and conditions between service providers and users for digital services, ensuring regulatory compliance and defining mutual obligations.

find out more

No Liabilities Agreement

A Nigerian law-governed agreement that establishes liability limitations and waivers between parties in a business relationship.

find out more

Video License Agreement

A Nigerian law-governed agreement establishing terms for video content licensing, including rights, restrictions, and compliance with local broadcasting regulations.

find out more

Content License Agreement

A Nigerian law-governed agreement establishing terms for content licensing between parties, including usage rights, royalties, and compliance with local regulations.

find out more

User Agreement And Privacy Policy

A Nigerian-compliant User Agreement and Privacy Policy governing service terms and data protection under NDPR 2019.

find out more

Licensing Agreement

A Nigerian law-governed agreement establishing terms for licensing intellectual property or technology rights, compliant with NOTAP regulations.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.