The Revocable License agreement is commonly used in Singapore when one party wishes to grant another party permission to use certain rights or property while maintaining control over the duration and conditions of such use. This document type is particularly relevant in situations where flexibility is required, and the licensor needs to retain the ability to terminate the arrangement. The agreement typically includes detailed terms about the scope of the license, conditions for revocation, payment terms if applicable, and the rights and obligations of both parties. It's designed to comply with Singapore's legal framework while providing clear protection for both parties' interests.
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1. Parties: Identification and details of the licensor and licensee
2. Background: Context and purpose of the license agreement
3. Definitions: Key terms used throughout the agreement
4. Grant of License: Scope and nature of the license being granted
5. Term and Termination: Duration of license and conditions for termination or revocation
6. License Fees: Payment terms and conditions, if applicable
7. Rights and Obligations: Responsibilities and rights of both parties
1. Intellectual Property Rights: Detailed IP provisions when license involves IP assets - use when licensing intellectual property
2. Confidentiality: Provisions for protecting confidential information - use when sensitive information is shared
3. Assignment and Sub-licensing: Terms regarding transfer of rights - use when transfer of rights might be contemplated
4. Insurance and Liability: Insurance requirements and liability limitations - use when there are significant liability risks
1. Schedule 1 - Licensed Property: Detailed description of what is being licensed
2. Schedule 2 - Fee Schedule: Detailed breakdown of license fees and payment terms
3. Schedule 3 - Technical Specifications: Technical details or requirements, if applicable
4. Schedule 4 - Service Levels: Performance standards and metrics, if applicable
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