The License Agreement Term Sheet is typically used in the early stages of IP licensing negotiations in Australia, where parties need to document their preliminary understanding before investing in detailed legal documentation. It is particularly valuable when dealing with complex intellectual property rights or when multiple stakeholders need to review and approve the basic transaction structure. The document includes essential commercial terms, rights granted, financial arrangements, and key obligations while remaining compliant with Australian intellectual property laws, competition regulations, and consumer protection requirements. While generally non-binding, it serves as a crucial tool for securing initial business approval and guiding the preparation of the final license agreement. The term sheet format allows for efficient negotiation of key terms without the complexity and expense of drafting a full agreement initially.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the licensor and licensee, including full legal names and addresses
2. Background: Brief context of the agreement and the intellectual property being licensed
3. Definitions: Key terms used in the term sheet that require specific definition
4. Licensed Rights: Clear identification of the intellectual property being licensed
5. License Grant: Nature and scope of the license (e.g., exclusive/non-exclusive, territory, field of use)
6. Term: Duration of the license and any renewal provisions
7. Financial Terms: License fees, royalties, payment terms, and any minimum guarantees
8. Key Obligations: Principal responsibilities of each party
9. Intellectual Property Protection: Basic provisions for protecting and maintaining the licensed IP
10. Termination Rights: Key circumstances under which the license may be terminated
11. Next Steps: Process and timeline for converting the term sheet into a full agreement
1. Development Obligations: Used when the license includes development or customization of the licensed property
2. Quality Control: Included when the license involves trademarks or brand-sensitive elements
3. Minimum Performance Requirements: Added when the license includes performance targets or minimum sales requirements
4. Sublicensing Rights: Included when sublicensing may be permitted
5. Export Control: Required when the licensed rights involve international trade or restricted technologies
6. Data Protection: Included when the license involves processing of personal data
7. Competitive Restrictions: Used when the agreement includes non-compete or market restrictions
8. Source Code Escrow: Included for software licenses where source code access may be required
1. Schedule 1 - Licensed IP: Detailed description of the intellectual property being licensed, including registration numbers where applicable
2. Schedule 2 - Financial Terms: Detailed breakdown of payment terms, royalty calculations, and reporting requirements
3. Schedule 3 - Territory: Detailed description of geographic territories covered by the license
4. Schedule 4 - Technical Specifications: Technical details of the licensed technology or products
5. Appendix A - Initial Development Plan: If applicable, outline of development milestones and timelines
6. Appendix B - Quality Standards: If applicable, detailed quality control requirements and specifications
Relevant legal definitions
Clauses
Relevant Industries
Technology & Software
Media & Entertainment
Manufacturing & Industrial
Healthcare & Life Sciences
Education & Research
Retail & Consumer Goods
Telecommunications
Automotive
Energy & Resources
Professional Services
Biotechnology
Fashion & Luxury Goods
Relevant Teams
Legal
Intellectual Property
Commercial
Business Development
Research & Development
Finance
Strategy
Operations
Technology
Innovation
Compliance
Product Development
Relevant Roles
Legal Counsel
Intellectual Property Manager
Commercial Director
Business Development Manager
Chief Technology Officer
Innovation Manager
Licensing Manager
Contract Manager
Research Director
Chief Executive Officer
Chief Financial Officer
Chief Legal Officer
Technology Transfer Officer
Product Manager
Head of Strategy
Commercialization Manager
Find the exact document you need
Perpetual Software License Agreement
An Australian-law governed agreement granting permanent rights to use specified software, including usage terms, IP rights, and compliance requirements.
Download
Master Recording License Agreement
An Australian-law governed agreement that grants rights to use and exploit master recordings, including terms for usage, payment, and quality control.
Download
Master License Agreement Music
An Australian law-governed agreement establishing terms for commercial music licensing between rights holders and users, ensuring compliance with national copyright legislation.
Download
Licensing Agreement Terms
An Australian-law governed agreement that sets out terms for licensing intellectual property rights between a licensor and licensee.
Download
License To Occupy Land
An Australian legal document granting temporary permission to occupy and use specified land or property without creating a leasehold interest.
Download
Excluded License Agreement
An Australian law-governed agreement granting exclusive license rights while ensuring competition law compliance.
Download
Bare Licence To Occupy
An Australian legal document granting temporary permission to occupy space without creating property rights, commonly used for flexible commercial and private occupation arrangements.
Download
License Agreement Contract
An Australian-law governed agreement establishing terms for the licensed use of intellectual property or other proprietary assets between a licensor and licensee.
Download
Copyright Agreement
An Australian law-governed agreement that establishes the transfer or licensing of copyright interests between parties, regulated under the Copyright Act 1968 (Cth).
Download
Partnership License
An Australian legal agreement establishing a partnership structure with integrated licensing provisions for intellectual property or proprietary assets.
Download
Commercial Property Licence Agreement
An Australian legal agreement granting temporary occupation rights for commercial property use, establishing terms and conditions without creating a leasehold interest.
Download
Short Term License Agreement
An Australian-law governed agreement for temporary licensing of assets or rights, establishing terms between licensor and licensee for a defined short-term period.
Download
Royalty License
An Australian-law governed agreement for licensing intellectual property rights in exchange for royalty payments, including terms for usage, payments, and quality control.
Download
Open Source Copyright License
An Australian-law compliant Open Source Copyright License governing the use, modification, and distribution of software while protecting creator rights.
Download
Open Copyright License
An Australian-law compliant Open Copyright License that enables copyright holders to share their works while maintaining specific rights and protections.
Download
Mutual License Agreement
An Australian law-governed agreement for reciprocal licensing of intellectual property or technology between two parties, establishing mutual rights and obligations.
Download
License Agreement Term Sheet
An Australian-law preliminary document outlining key commercial and legal terms for a proposed intellectual property license, serving as a basis for the final agreement.
Download
Master License
An Australian-law governed agreement establishing comprehensive terms for licensing intellectual property, software, or technology, serving as a framework for future licensing arrangements.
Download
International License Agreement
An Australian law-governed agreement establishing terms for international licensing of intellectual property or technology between parties.
Download
Beat License
An Australian-law governed agreement for licensing musical beats, establishing usage rights and terms between producers and licensees.
Download
Music Licensing Contract
An Australian law-governed agreement establishing terms and conditions for licensing musical works, including rights, royalties, and usage terms.
Download
Image Licensing Agreement
An Australian-law governed agreement that establishes terms for licensing and using specific images or visual content, including usage rights, restrictions, and payment terms.
Download
Exclusive Licence Agreement
An Australian-law governed agreement granting exclusive rights to use and commercialize intellectual property, with comprehensive terms for exploitation and protection of IP rights.
Download
Licensor Licensee Agreement
An Australian-law governed agreement establishing terms for licensing intellectual property or other assets from a licensor to a licensee.
Download
Contributor License Agreement
An Australian law-governed agreement establishing terms for intellectual property contributions to a project, including copyright and patent rights assignments.
Download
Licence Agreement To Occupy Property
An Australian law-governed agreement granting permission to occupy and use property, establishing terms between a Licensor and Licensee without creating a leasehold interest.
Download
Open Software License
An Australian law-compliant Open Software License defining terms for software use, modification, and distribution under open source principles.
Download
Non Exclusive License Agreement Music
An Australian-law governed agreement granting non-exclusive rights to use specified musical works while protecting the interests of both the licensor and licensee.
Download
Foreign Licensing Agreement
An Australian law-governed agreement for licensing intellectual property or technology between foreign and domestic entities, addressing cross-border commercial and regulatory requirements.
Download
Music Distribution License
An Australian-law governed agreement for licensing music distribution rights, covering both digital and physical distribution channels under Australian copyright and competition laws.
Download
Product License
An Australian-law governed agreement granting rights to use or commercialize a product while protecting the owner's intellectual property rights.
Download
Pharmaceutical License Agreement
An Australian law-governed agreement for licensing pharmaceutical product rights, including development, manufacturing, and distribution rights under Australian regulatory requirements.
Download
Exclusive License Agreement Music
An Australian-law governed agreement granting exclusive rights to license and commercialize musical works, establishing terms between rights holders and licensees.
Download
Music Licensing Agreement For Film
An Australian-law governed agreement that licenses music rights for use in film productions, covering usage terms, royalties, and compliance requirements.
Download
Commercial Music License
An Australian law-governed agreement authorizing commercial use of copyrighted musical works, specifying usage rights, restrictions, and payment terms.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)