Document background
The Right Of First Refusal License Agreement is utilized when a potential licensor wishes to give a preferred party priority rights to license specific assets or rights before offering them to others. This document, governed by Singapore law, establishes the mechanism for exercising these rights, including notification procedures, response timeframes, and pricing structures. It's particularly relevant in competitive markets where securing priority access to licensing opportunities provides strategic advantages. The agreement typically includes specific terms about the scope of the rights covered, duration of the ROFR, and conditions for exercise.
