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The Irrevocable License Agreement is designed for situations where a permanent transfer of intellectual property rights is required while maintaining original ownership. This document is particularly relevant in South Africa where intellectual property transactions must comply with local legislation including the Patents Act, Copyright Act, and Trade Marks Act. It's commonly used in technology transfers, software licensing, manufacturing rights, and similar scenarios where the licensee requires guaranteed ongoing access to intellectual property. The agreement includes comprehensive provisions for quality control, payment structures, and usage rights, while ensuring compliance with South African competition law and consumer protection requirements. The irrevocable nature of the license provides the licensee with security of rights while protecting the licensor's ownership interests.
