An Intellectual Property Licence Agreement is essential when one party wishes to use another's intellectual property rights while the owner retains ownership. This document, governed by English and Welsh law, establishes the terms under which intellectual property can be used, including scope, duration, territory, and payment terms. It provides legal protection for both parties and ensures compliance with relevant UK legislation, including the Copyright, Designs and Patents Act 1988, Trade Marks Act 1994, and Patents Act 1977.
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1. Parties: Identification and details of the licensor and licensee
2. Background: Context of the agreement and ownership of the IP rights
3. Definitions: Key terms used throughout the agreement
4. Grant of Licence: Scope and nature of the licence being granted, including type of licence (exclusive/non-exclusive), field of use, and territory
5. Term and Termination: Duration of licence, renewal provisions, and circumstances for termination
6. Payment Terms: Fees, royalties, payment schedules, and reporting requirements
7. IP Protection: Obligations regarding protection and maintenance of the licensed IP
8. Confidentiality: Provisions for protecting confidential information exchanged during the agreement
9. Warranties and Indemnities: Representations about IP ownership and provisions for indemnification
10. Governing Law and Jurisdiction: Specification of applicable law and courts having jurisdiction
1. Quality Control: Standards and monitoring procedures for trademark or brand licensing
2. Improvements: Rights and obligations regarding improvements or modifications to the licensed IP
3. Sub-licensing Rights: Terms and conditions under which the licensee may sub-license the IP
4. Territory Restrictions: Specific geographical limitations and requirements for different territories
5. Competition Law Compliance: Specific provisions ensuring compliance with competition laws
1. Schedule 1: Licensed IP: Detailed description and specification of the intellectual property being licensed
2. Schedule 2: Royalty Calculations: Detailed breakdown of payment calculations, including royalty rates and minimum payments
3. Schedule 3: Technical Specifications: Technical details and requirements for using the licensed IP
4. Schedule 4: Quality Standards: Specific quality requirements, testing procedures, and monitoring processes
5. Schedule 5: Approved Sub-licensees: List of pre-approved sub-licensees (if applicable)
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