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A Non-Exclusive Patent License is essential when patent holders wish to monetize their intellectual property while maintaining control and the ability to license to multiple parties. This document, structured under Singapore law, provides a comprehensive framework for licensing arrangements, including scope of use, royalty structures, and territorial restrictions. It's particularly relevant in Singapore's innovation-driven economy and must comply with both the Patents Act (Chapter 221) and Competition Act. The agreement typically includes technical specifications, quality control measures, and specific terms for commercialization while protecting the licensor's intellectual property rights.
