The Simple Royalty Agreement is essential for businesses and individuals in New Zealand who wish to monetize their intellectual property, creative works, or other assets through licensing arrangements. This document is commonly used when one party owns valuable intellectual property rights (such as patents, trademarks, copyrights, or proprietary content) and wishes to grant another party the right to use these assets in exchange for regular royalty payments. The agreement must comply with New Zealand's legal framework, including the Contract and Commercial Law Act 2017, Copyright Act 1994, and Fair Trading Act 1986. It provides a structured framework for defining payment terms, usage rights, reporting requirements, and quality control measures, while offering flexibility to accommodate various types of intellectual property and business arrangements.
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1. Parties: Identifies and provides full legal details of all parties to the agreement
2. Background: Sets out the context of the agreement, including ownership of the intellectual property or assets
3. Definitions: Defines key terms used throughout the agreement
4. Grant of Rights: Specifies the rights being licensed and any restrictions on their use
5. Calculation of Royalties: Details how royalties will be calculated, including rates and basis
6. Payment Terms: Specifies payment frequency, method, currency, and handling of taxes
7. Reporting Requirements: Outlines the licensee's obligations to report sales or usage
8. Record Keeping and Audit Rights: Details requirements for maintaining records and the licensor's audit rights
9. Term and Termination: Specifies duration of agreement and circumstances for termination
10. General Provisions: Standard clauses including governing law, notices, and assignment rights
1. Quality Control: Required when the licensed property needs to maintain certain quality standards
2. Territorial Restrictions: Used when the license is limited to specific geographic areas
3. Minimum Guarantees: Include when there are minimum royalty payments required
4. Sub-licensing Rights: Needed if the licensee is permitted to sub-license the rights
5. Marketing and Promotion: Include when there are specific requirements for promoting the licensed property
6. Confidentiality: Required when sensitive information will be shared between parties
7. Insurance Requirements: Include when specific insurance coverage is required for the licensed activities
1. Schedule 1 - Licensed Property: Detailed description of the intellectual property or assets being licensed
2. Schedule 2 - Royalty Rates: Detailed breakdown of royalty rates, including any tiered structure
3. Schedule 3 - Reporting Template: Template for regular royalty reports
4. Schedule 4 - Quality Standards: Detailed quality control requirements and specifications
5. Schedule 5 - Territories: List and description of authorized territories
6. Appendix A - Approved Product Categories: List of approved products or services for which the license is granted
Authors
Relevant legal definitions
Clauses
Relevant Industries
Technology
Media and Entertainment
Publishing
Manufacturing
Pharmaceuticals
Software
Fashion and Apparel
Music Industry
Gaming
Biotechnology
Research and Development
Consumer Products
Arts and Culture
Relevant Teams
Legal
Commercial
Business Development
Intellectual Property
Finance
Research and Development
Product Development
Content Creation
Licensing
Executive Leadership
Relevant Roles
Intellectual Property Lawyer
Commercial Lawyer
Legal Counsel
Contract Manager
Business Development Manager
Licensing Manager
IP Portfolio Manager
Chief Legal Officer
Commercial Director
Rights Manager
Creative Director
Content Manager
Research Director
Product Manager
CEO
CFO
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