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Assignment Of License Agreement

Assignment Of License Agreement Template for South Africa

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Key Requirements PROMPT example:

Assignment Of License Agreement

"I need an Assignment of License Agreement for transferring our enterprise software license rights to our newly formed subsidiary company, ensuring all maintenance and support obligations are included and the original licensor's rights are protected."

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Document background
The Assignment Of License Agreement is a crucial document used when a licensee needs to transfer their licensed rights to another party under South African law. This typically occurs during business restructuring, mergers and acquisitions, or strategic business decisions where licensed intellectual property or other rights need to be reassigned. The document ensures a smooth transition of rights while maintaining the original license's integrity and securing the licensor's interests. It must comply with South African intellectual property laws, including the Copyright Act 98 of 1978, Patents Act 57 of 1978, and Trade Marks Act 194 of 1993, as well as general contract law principles. The agreement covers key aspects such as assignment terms, warranties, representations, and continuing obligations, making it essential for businesses dealing with intellectual property and licensed rights in South Africa.
Suggested Sections

1. Parties: Identifies all parties: the Assignor (current licensee), Assignee (new licensee), and Licensor

2. Background: Describes the existing license agreement, its key terms, and the intention to assign

3. Definitions: Defines key terms used throughout the agreement, including references to the original license agreement

4. Assignment: Core provision detailing the assignment of rights and obligations from Assignor to Assignee

5. Consent: Formal consent from the Licensor for the assignment

6. Effective Date: Specifies when the assignment takes effect

7. Consideration: Details of any payment or consideration for the assignment

8. Warranties and Representations: Warranties from all parties regarding their authority, the license status, and no breaches

9. Release: Release of the Assignor from future obligations under the license agreement

10. Continuing Obligations: Specifies any obligations that survive the assignment

11. Governing Law: Confirms South African law as governing law

12. Dispute Resolution: Mechanism for resolving disputes under South African jurisdiction

Optional Sections

1. Employee and Support Provisions: Used when the license involves technical support or key employees who need to transition

2. Intellectual Property Registration: Required when the license involves registered IP rights that need formal recording of the assignment

3. Third Party Consents: Include when additional third-party approvals are needed beyond the licensor

4. Special Indemnities: Used when specific risks need special indemnification beyond standard warranties

5. Transition Services: Required when the Assignor needs to provide temporary support to the Assignee

6. Competition Law Compliance: Include when the assignment might have competition law implications

7. Confidentiality: Optional if the original agreement's confidentiality provisions are sufficient

Suggested Schedules

1. Original License Agreement: Copy of the complete license agreement being assigned

2. Assigned Rights: Detailed list of all rights, assets, and obligations being transferred

3. Payment Schedule: If applicable, details of any payment terms for the assignment

4. Required Consents: List of all required third-party consents and their status

5. Intellectual Property Register: Schedule of all IP rights covered by the license

6. Transition Plan: If applicable, detailed plan for transitioning the license to the Assignee

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 Industries

Technology

Manufacturing

Pharmaceuticals

Media and Entertainment

Software Development

Telecommunications

Biotechnology

Research and Development

Consumer Goods

Industrial Equipment

Automotive

Energy

Relevant Teams

Legal

Compliance

Intellectual Property

Business Development

Executive Leadership

Finance

Research and Development

Commercial Operations

Regulatory Affairs

Corporate Strategy

Relevant Roles

Legal Counsel

Intellectual Property Manager

Licensing Director

Business Development Manager

Chief Legal Officer

Chief Technology Officer

Compliance Officer

Contract Manager

Commercial Director

Chief Executive Officer

Chief Financial Officer

Research and Development Director

Intellectual Property Attorney

Technology Transfer Officer

Industries
Copyright Act 98 of 1978: Governs copyright protection and the transfer of copyright-related rights in South Africa, essential for license assignments involving copyrightable works
Patents Act 57 of 1978: Regulates patent rights and their transfer, crucial when the license assignment involves patented technologies or innovations
Trade Marks Act 194 of 1993: Controls trademark rights and their assignment, relevant when the license involves trademark usage rights
Competition Act 89 of 1998: Ensures the assignment doesn't create monopolistic conditions or anti-competitive practices in the market
Consumer Protection Act 68 of 2008: Protects consumer rights and applies to license assignments that might affect end-users or consumers
Electronic Communications and Transactions Act 25 of 2002: Relevant for electronic execution of agreements and digital rights management aspects of the license
Companies Act 71 of 2008: Important for verifying corporate authority to enter into license assignments and ensuring proper corporate governance
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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