The Royalty Bearing License agreement is essential for businesses seeking to monetize their intellectual property or acquire rights to use others' IP in Malaysia. This document is commonly used when a rights holder (licensor) grants permission to another party (licensee) to use their intellectual property in exchange for ongoing royalty payments. The agreement must comply with Malaysian legal requirements, including the Contracts Act 1950, relevant intellectual property statutes, and tax regulations. It typically includes detailed provisions for royalty calculations, payment terms, quality control, reporting requirements, and audit rights. The document is particularly important in industries where IP licensing is common, such as technology, manufacturing, and entertainment, and requires careful consideration of both commercial and legal aspects to ensure effective protection of both parties' interests.
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1. Parties: Identification of the licensor and licensee with full legal names and addresses
2. Background: Context of the agreement and brief description of the intellectual property being licensed
3. Definitions: Definitions of key terms used throughout the agreement
4. Grant of License: Scope of the license, including territory, exclusivity, and permitted uses
5. Royalty Payments: Royalty rates, calculation methods, payment terms, and reporting requirements
6. Records and Audit: Requirements for maintaining records and rights of audit
7. Intellectual Property Protection: Obligations regarding IP protection, infringement, and enforcement
8. Representations and Warranties: Standard warranties regarding ownership, right to license, and non-infringement
9. Term and Termination: Duration of the agreement and grounds for termination
10. Confidentiality: Protection of confidential information exchanged under the agreement
11. Governing Law and Jurisdiction: Specification of Malaysian law and jurisdiction
12. General Provisions: Standard boilerplate clauses including notices, assignment, and entire agreement
1. Quality Control: Required for trademark licenses or when product quality standards must be maintained
2. Sub-licensing Rights: Include when licensee is permitted to grant sub-licenses
3. Minimum Performance Requirements: Include when there are minimum sales or usage requirements
4. Development Obligations: Include when the licensee must develop or improve the licensed technology
5. Export Controls: Include for international licenses involving regulated technologies
6. Competition Law Compliance: Include specific provisions when the license might raise competition law concerns
7. Source Code Escrow: Include for software licenses where source code access might be needed
8. Technology Transfer: Include when technical assistance or training is part of the agreement
1. Schedule 1 - Licensed Property: Detailed description of the intellectual property being licensed
2. Schedule 2 - Royalty Calculations: Detailed formulas and examples of royalty calculations
3. Schedule 3 - Reporting Template: Format for regular royalty reports
4. Schedule 4 - Technical Specifications: Technical details of licensed technology or quality standards
5. Schedule 5 - Territory: Detailed description of geographic territory if complex
6. Appendix A - Initial Product List: List of products covered by the license at commencement
7. Appendix B - Approved Sub-licensees: List of pre-approved sub-licensees if applicable
8. Appendix C - Bank Account Details: Banking information for royalty payments
Relevant legal definitions
Clauses
Relevant Industries
Technology and Software
Manufacturing
Pharmaceuticals and Healthcare
Media and Entertainment
Consumer Goods
Industrial Products
Biotechnology
Telecommunications
Automotive
Fashion and Retail
Relevant Teams
Legal
Intellectual Property
Business Development
Finance
Research and Development
Commercial
Compliance
Technology Transfer
Product Development
Corporate Strategy
Relevant Roles
Legal Counsel
Intellectual Property Manager
Business Development Director
Chief Technology Officer
Finance Director
Licensing Manager
Commercial Director
Contract Manager
Chief Financial Officer
IP Compliance Officer
Research and Development Director
Technology Transfer Manager
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