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Royalty Purchase Agreement

Royalty Purchase Agreement Template for Singapore

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Key Requirements PROMPT example:

Royalty Purchase Agreement

"Need a Royalty Purchase Agreement for acquiring music streaming royalties from an independent artist in Singapore, with quarterly payments spread over 3 years starting March 2025, and need to include audit rights for verification of streaming numbers."

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Document background
A Royalty Purchase Agreement is utilized when one party wishes to sell their rights to receive future royalty payments to another party. Under Singapore law, this document outlines the complete transaction, including the nature and scope of the royalty rights, purchase price, payment terms, and any continuing obligations. The agreement must comply with Singapore's commercial and intellectual property laws, including the Civil Law Act, Contracts Act, and relevant IP legislation. It's particularly important in sectors where intellectual property monetization is common, such as technology, entertainment, and natural resources.
Suggested Sections

1. Parties: Identification of buyer and seller of royalty rights, including full legal names and addresses

2. Background/Recitals: Context of the agreement, nature of royalty rights, and purpose of the transaction

3. Definitions: Key terms used tHRoughout the agreement, including 'Royalty Rights', 'Purchase Price', 'Effective Date'

4. Sale and Purchase: Core transaction terms, including what is being sold and purchased

5. Purchase Price and Payment: Amount, payment schedule, and payment mechanisms

6. Completion: Conditions precedent, completion obligations, and timing

7. Representations and Warranties: Standard representations by both parties, specific warranties about the royalty rights

8. Covenants: Ongoing obligations of the parties

9. Term and Termination: Duration of agreement and termination provisions

Optional Sections

1. Security Arrangements: Security provisions if payment is deferred - used when purchase price is paid in installments

2. Tax Provisions: Detailed tax treatment and obligations - used for cross-border transactions or complex tax structures

3. Anti-dilution Provisions: Protection against dilution of royalty rights - used when underlying asset may be subject to change

4. Audit Rights: Rights to audit royalty calculations - used when ongoing royalty calculations are complex

Suggested Schedules

1. Schedule 1 - Description of Royalty Rights: Detailed description of the royalty rights being purchased

2. Schedule 2 - Calculation Methodology: Formula and methods for calculating royalties

3. Schedule 3 - Due Diligence Documents: List of documents provided during due diligence

4. Schedule 4 - Form of Transfer Documents: Template documents for effecting the transfer

5. Schedule 5 - Completion Obligations: Detailed list of actions required at completion

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions





























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Industries

Civil Law Act (Cap. 43): Core commercial law governing civil matters and contractual relationships in Singapore

Contracts Act (Cap. 53): Fundamental legislation governing contract formation, validity, and enforcement in Singapore

Sale of Goods Act (Cap. 393): Legislation governing the sale and transfer of goods, which may be relevant if the royalties involve physical products

Copyright Act 2021: Governs copyright protection and licensing, crucial for intellectual property-based royalty agreements

Patents Act (Cap. 221): Regulates patent rights and licensing, relevant for technology or invention-based royalties

Trade Marks Act (Cap. 332): Governs trademark protection and licensing, important for brand-related royalty agreements

Registered Designs Act (Cap. 266): Regulates design rights and their commercial exploitation tHRough licensing or sale

Income Tax Act (Cap. 134): Governs taxation of royalty income and related withholding tax obligations

Goods and Services Tax Act (Cap. 117A): Determines GST treatment of royalty payments and related transactions

Stamp Duties Act (Cap. 312): Regulates stamp duty obligations on certain types of agreements and transfers

Currency Act (Cap. 69): Governs currency matters and may affect international royalty payment arrangements

Money-changing and Remittance Businesses Act (Cap. 187): Relevant for international royalty payment transactions and currency exchange

Electronic Transactions Act (Cap. 88): Governs electronic contracts and signatures if the agreement is executed electronically

Personal Data Protection Act 2012: Regulates the collection, use, and disclosure of personal data in commercial transactions

Competition Act (Cap. 50B): Ensures royalty arrangements comply with competition laws and do not create market monopolies

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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