Licence/royalty agreement for use of intellectual property . Specific percentage return of a royalty to use/sell someone's intellectual property under licence. Based on turnover of sales for intellectual property/product.
Sample
"1. DESCRIPTION OF INTELLECTUAL PROPERTY
## is the supplier of ## .
("Intellectual Property" includes the names and styles and all trade marks, logos, service marks, trade names, business names, copyrights, designs, patents, inventions, processes and other technical know-how, confidential information and other rights in industrial property and applications for them or licence agreements or other arrangements under which a person has the right to use any of them).
2. GENERAL
2.1. ## has informed ## that it may give certain personal information about ## to a credit reporting agency.
2.2. ?a10? agrees to ?a9? 's checking personal information about ?a10? with any referees or credit providers for any of the following purposes.
- to assess credit worthiness;
- to assess an application for credit;
- to avoid defaulting on credit obligation;
- the collection of overdue payments;
- to notify a default to ## .
## understands that this information can include any information about ##'s credit worthiness, credit sharing, credit history or credit capacity that credit providers are allowed to give or receive from each other under the Privacy Act.
2.3. ## consents to ## obtaining from a credit reporting agency a credit report about ## at ##'s cost.
2.4. In consideration for payment of the royalty, ## grants to ## a non-exclusive licence to utilise the Intellectual Property from the Commencement Date and on the terms and conditions of this Agreement.
2.5. ## has read and fully understands these conditions and agrees to be bound by them.
3. COMMENCEMENT DATE
This Agreement commences .........."
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Licence/royalty agreement to use intellectual property-LIC 26
