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Character License Agreement
"I need a Character License Agreement for licensing my animated penguin character to a Singapore-based toy manufacturer for production of plush toys and action figures, with a 5% royalty rate and initial term of three years starting January 2025."
1. Parties: Identification of licensor and licensee with full legal details
2. Background: Context of the agreement and ownership declaration of the character(s)
3. Definitions: Key terms including Licensed Character, Territory, Term, Licensed Products, etc.
4. Grant of Rights: Scope of license, permitted uses, and restrictions
5. Term and Territory: Duration of agreement and geographical scope
6. Royalties and Payments: Financial terms, payment schedules, and reporting requirements
7. Quality Control: Standards for character use and approval processes
8. Intellectual Property Protection: Rights protection and infringement procedures
9. Termination: Conditions for ending the agreement and post-termination obligations
1. Sublicensing Rights: Terms for sublicensing when licensee may need to sublicense to third parties
2. Minimum Guarantees: Minimum payment or performance requirements for commercial licenses with expected minimum revenue
3. Marketing Obligations: Marketing commitments and requirements when specific promotional activities are expected
4. Character Development: Rights and procedures for character evolution when character may need to be modified or developed
1. Schedule 1: Character Specifications: Detailed description and visual representation of licensed character(s)
2. Schedule 2: Licensed Products: List of approved products/services for character use
3. Schedule 3: Style Guide: Guidelines for character representation and usage
4. Schedule 4: Royalty Rates: Detailed breakdown of royalty calculations and terms
5. Schedule 5: Approval Procedures: Step-by-step process for obtaining approvals for character use
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