Technology License Template for Singapore

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Key Requirements PROMPT example:

Technology License

"I need a Technology License agreement to allow a Singapore-based fintech company to use our proprietary trading algorithm software, with implementation support and source code protection, starting from March 2025."

Document background
Technology License Agreements are essential when one party wishes to grant another the right to use their proprietary technology while retaining ownership. Under Singapore law, these agreements must comply with local IP legislation, data protection requirements, and industry-specific regulations. The Technology License should clearly define the scope of use, territorial restrictions, payment terms, and protection mechanisms for the licensed technology. This document is particularly relevant in Singapore's growing technology sector and can be adapted for various types of technology transfer arrangements.
Suggested Sections

1. Parties: Identification and details of the licensor and licensee

2. Background: Context of the agreement and brief description of the technology

3. Definitions: Key terms used throughout the agreement

4. Grant of License: Scope, nature, and territory of the license granted

5. Payment Terms: License fees, royalties, and payment schedules

6. IP Rights and Protection: Ownership, protection and enforcement of intellectual property rights

7. Confidentiality: Protection of confidential information and trade secrets

8. Warranties and Representations: Warranties regarding technology ownership, performance and compliance

9. Indemnification: Indemnification obligations of both parties

10. Term and Termination: Duration, renewal, and termination provisions

11. Governing Law and Jurisdiction: Choice of law and dispute resolution mechanisms

Optional Sections

1. Implementation Services: Details of technical support and implementation services when the license includes implementation support

2. Source Code Escrow: Terms for source code protection and access arrangements for software licenses

3. Export Controls: Compliance with export regulations when technology is subject to export restrictions

4. Quality Control: Quality standards and monitoring provisions for licensed technology

5. Sublicensing Rights: Terms and conditions for sublicensing when permitted

Suggested Schedules

1. Schedule 1 - Technical Specifications: Detailed description of the licensed technology, including technical requirements and functionality

2. Schedule 2 - Fee Schedule: Detailed breakdown of all fees, royalties, and payment terms

3. Schedule 3 - Service Level Agreement: Performance metrics, support standards, and response times

4. Schedule 4 - Maintenance and Support Terms: Details of ongoing support, maintenance obligations, and upgrade provisions

5. Schedule 5 - Implementation Plan: Timeline and milestones for technology implementation and deployment

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

Clauses
Industries

Copyright Act 2021: Primary legislation governing copyright protection in Singapore, crucial for software and documentation licensing

Patents Act 1994: Regulates patent rights and protection in Singapore, essential for technology licensing involving patented innovations

Trade Marks Act 1998: Governs trademark protection and usage rights in Singapore, relevant for brand and mark licensing in technology agreements

Registered Designs Act 2000: Protects industrial designs in Singapore, applicable for technology with design elements

Contract Law (Amendment) Act 2019: Provides framework for contract formation, enforcement and remedies in Singapore

Electronic Transactions Act 2010: Governs electronic contracts and digital signatures in Singapore

Competition Act 2004: Ensures licensing terms comply with competition law and prevents anti-competitive practices

Personal Data Protection Act 2012: Regulates collection, use, and disclosure of personal data, crucial if technology handles personal information

Cybersecurity Act 2018: Sets cybersecurity requirements and standards for technology systems

Computer Misuse Act: Addresses computer crimes and unauthorized access, relevant for software licensing

TRIPS Agreement: International agreement on trade-related aspects of intellectual property rights that Singapore adheres to

License Scope Provisions: Legal requirements for defining exclusive/non-exclusive rights, territory restrictions, and duration

Royalty Structuring Requirements: Legal framework for establishing and enforcing royalty payments and financial terms

Confidentiality Obligations: Legal requirements for protecting confidential information and trade secrets

Dispute Resolution Framework: Singapore's legal framework for resolving commercial disputes, including arbitration and mediation options

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

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