The Simple Royalty Agreement serves as a fundamental legal instrument for businesses operating in Indonesia who wish to monetize their intellectual property rights or utilize others' IP through a licensing arrangement. This document is particularly relevant in the Indonesian market where IP commercialization is growing rapidly and foreign investment in local businesses is increasing. The agreement needs to comply with Indonesian Civil Code requirements, relevant IP laws, and tax regulations, especially concerning withholding tax on royalty payments. The Simple Royalty Agreement typically includes provisions for payment terms, calculation methods, reporting requirements, and audit rights, while addressing specific Indonesian regulatory requirements such as mandatory registration of certain IP licenses with the Directorate General of Intellectual Property. This document is essential for both domestic and international businesses engaging in IP licensing transactions within Indonesia.
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1. Parties: Identification of the licensor and licensee with their full legal names and addresses
2. Background: Context of the agreement and brief description of the intellectual property involved
3. Definitions: Key terms used throughout the agreement including 'Intellectual Property', 'Royalty Rate', 'Net Sales', etc.
4. Grant of Rights: Specific rights being granted, including scope, territory, and any restrictions
5. Calculation of Royalties: Formula and basis for calculating royalties, including definition of net sales or revenue
6. Payment Terms: Payment frequency, method, currency, and timing of royalty payments
7. Reporting Requirements: Requirements for sales reports, accounting records, and audit rights
8. Intellectual Property Protection: Obligations regarding IP protection, infringement reporting, and enforcement
9. Term and Termination: Duration of agreement and circumstances for termination
10. Confidentiality: Protection of confidential information exchanged during the agreement
11. Governing Law and Dispute Resolution: Specification of Indonesian law as governing law and dispute resolution mechanism
1. Quality Control: Required for trademark licenses or when product quality standards must be maintained
2. Minimum Guarantee: Include when there's a minimum royalty payment requirement
3. Sub-licensing Rights: Include when licensee is permitted to sub-license the rights
4. Currency Conversion: Include for international agreements with foreign currency payments
5. Tax Provisions: Detailed section on tax implications when dealing with international parties
6. Force Majeure: Include when specific events might affect performance of obligations
7. Insurance: Include when specific insurance requirements are needed for high-risk products
1. Schedule A - Licensed Intellectual Property: Detailed description of the intellectual property being licensed
2. Schedule B - Royalty Rates: Detailed breakdown of royalty rates, including any tiered structure
3. Schedule C - Reporting Template: Template for regular royalty reports and sales statements
4. Schedule D - Quality Standards: Specific quality requirements and standards (if applicable)
5. Schedule E - Territory: Detailed description of the geographic territory covered by the license
6. Appendix 1 - Calculation Examples: Examples of royalty calculations for different scenarios
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