The Stock Footage License Agreement is essential for businesses and individuals seeking to legally acquire and use pre-recorded video content in Hong Kong. This document is commonly used when a party wishes to incorporate stock footage into their productions, advertisements, or other media projects. The agreement, governed by Hong Kong law, comprehensively covers licensing terms, usage rights, technical specifications, and compliance with local copyright regulations. It is particularly relevant in today's digital age where video content is increasingly important for marketing, education, and entertainment purposes. The document should be used whenever stock footage is being licensed, whether for one-time use or ongoing projects, and includes crucial provisions for protecting both the licensor's intellectual property rights and the licensee's usage rights under Hong Kong's legal framework.
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1. Parties: Identification of the licensor (footage owner) and licensee, including full legal names and addresses
2. Background: Brief context explaining the licensor's ownership of the footage and licensee's desire to use it
3. Definitions: Key terms used in the agreement including 'Stock Footage', 'License Fee', 'Territory', 'Usage Rights', etc.
4. Grant of License: Specific rights being granted, including scope, territory, and duration of the license
5. License Fee and Payment Terms: Details of licensing fees, payment schedule, and any recurring fees
6. Delivery and Technical Specifications: Format, resolution, and method of footage delivery
7. Usage Restrictions: Specific limitations on how the footage can be used, modified, or sublicensed
8. Representations and Warranties: Licensor's warranties regarding ownership and licensee's warranties regarding usage
9. Intellectual Property Rights: Confirmation of ownership and protection of IP rights
10. Term and Termination: Duration of the agreement and circumstances for termination
11. Indemnification: Mutual indemnification provisions for breach of warranties or misuse
12. General Provisions: Standard clauses including governing law, notices, and entire agreement
1. Exclusivity Provisions: Used when granting exclusive rights to the licensee for specific territories or uses
2. Credit and Attribution: Required when the licensor requires specific attribution for footage use
3. Quality Control: Included when the licensor wants to maintain control over how their footage is used or modified
4. Audit Rights: For agreements where usage tracking and verification is important
5. Revenue Share: When the agreement includes profit-sharing or royalty arrangements
6. Moral Rights: Particularly important for agreements involving artistic works or when required by local law
7. Distribution Rights: When licensee is granted rights to distribute or sublicense the footage
1. Schedule 1 - Licensed Footage: Detailed list and description of all stock footage covered by the agreement
2. Schedule 2 - Technical Specifications: Detailed technical requirements including format, resolution, codec, and delivery specifications
3. Schedule 3 - Fee Schedule: Detailed breakdown of licensing fees, including any variable pricing based on usage
4. Schedule 4 - Territory and Usage Restrictions: Specific geographical restrictions and permitted uses
5. Schedule 5 - Delivery Schedule: Timeline and method for footage delivery
6. Appendix A - Acceptable Use Policy: Detailed guidelines for acceptable modification and use of the footage
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