The Royalty Share Agreement serves as a crucial legal instrument in Indonesian business transactions where parties seek to commercialize intellectual property rights and establish clear revenue-sharing arrangements. This document is particularly relevant when IP owners wish to monetize their intellectual property while maintaining ownership rights, or when multiple parties contribute to the development and commercialization of IP assets. The agreement must comply with Indonesian legal requirements, including the Civil Code (KUHPerdata), relevant IP laws, and tax regulations. It typically includes detailed provisions for calculating royalties, payment mechanisms, reporting obligations, audit rights, and dispute resolution procedures. The document is essential for businesses operating in Indonesia that need to formalize their IP commercialization arrangements while ensuring legal compliance and protecting all parties' interests.
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1. Parties: Identification and details of all parties to the agreement, including their legal status and addresses
2. Background: Context of the agreement, relationship between parties, and brief description of the intellectual property involved
3. Definitions: Detailed definitions of key terms used throughout the agreement, including 'Net Revenue', 'Royalty Period', 'Intellectual Property', etc.
4. Grant of Rights: Specific rights being granted, scope of use, and any territorial limitations
5. Calculation of Royalties: Formula and methodology for calculating royalty shares, including basis for calculations and excluded revenues
6. Payment Terms: Payment frequency, method, currency, and timing of royalty payments
7. Reporting and Auditing: Requirements for financial reporting, record-keeping, and audit rights
8. Intellectual Property Protection: Obligations regarding IP protection, registration, and enforcement
9. Term and Termination: Duration of agreement, renewal terms, and grounds for termination
10. Confidentiality: Protection of confidential information and trade secrets
11. Representations and Warranties: Standard warranties regarding IP ownership, authority to contract, and non-infringement
12. Governing Law and Dispute Resolution: Choice of Indonesian law and dispute resolution mechanisms
1. Currency Conversion: Include when payments involve foreign currencies, specifying exchange rate sources and timing
2. Minimum Guarantee: Include when there's a minimum royalty payment requirement regardless of actual revenues
3. Quality Control: Include when the IP usage requires maintaining certain quality standards
4. Sub-licensing Rights: Include when sub-licensing is permitted, specifying terms and conditions
5. Marketing and Promotion: Include when parties have specific marketing obligations or restrictions
6. Tax Provisions: Include detailed tax handling when cross-border payments are involved
7. Force Majeure: Include when parties want specific provisions for handling unforeseen circumstances
8. Insurance: Include when specific insurance coverage is required for IP exploitation
1. Schedule A - Intellectual Property Description: Detailed description of all IP covered by the agreement
2. Schedule B - Royalty Calculation Examples: Examples showing how royalties will be calculated in various scenarios
3. Schedule C - Reporting Template: Standard format for periodic royalty reports
4. Schedule D - Approved Products/Services: List of products or services approved for IP usage
5. Schedule E - Territory Definition: Detailed description of geographical territories covered
6. Appendix 1 - Bank Account Details: Banking information for royalty payments
7. Appendix 2 - Authorized Representatives: List of authorized contacts for various aspects of agreement administration
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