Document background
The Letter of Intent to License Intellectual Property is a crucial preliminary document used in Malaysian business transactions when parties are considering entering into an intellectual property licensing arrangement. This document is particularly relevant in today's knowledge-based economy where intellectual property rights are valuable business assets. It serves as a roadmap for negotiations, typically including proposed terms, timelines, and any exclusivity arrangements, while operating within Malaysia's legal framework that encompasses various IP-related legislation. While most provisions are non-binding, certain elements like confidentiality obligations may be legally enforceable. The document is essential for establishing clear communication between parties and demonstrating serious intent to proceed with licensing negotiations, while protecting both parties' interests during the preliminary stages of the deal.
