What is royalty license agreement?

A royalty agreement, also called a licensing agreement, is a legally binding contract that grants a licensee the right to use a licensor's intellectual property. In exchange, the licensor will receive royalty payments for the use of their property. Royalty agreements are commonly found in the entertainment industry.

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Author Oriented Software Royalty and License Agreement

Palm Beach Florida Author Oriented Software Royalty and License Agreement

Name: Palm Beach Florida Author Oriented Software Royalty and License Agreement
Brand: US Legal Forms
Rating: 4.56 (334 reviews)

Category:

Technology - Publishers and Work for Hire

State:

Multi-State

County:

Palm Beach

Control #:

US-CP1213-AM

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Instant download

Description

This sample form, a detailed Author Oriented Software Royalty and License Agreement document, is for use in the computer, internet and/or software industries. Adapt to fit your circumstances. Available in Word format.

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FAQ

Royalty-free Most software licenses are described as royalty-free because its use will not require that a royalty be paid in addition to the payment for the license. Fully paid-up usually describes a one-time payment for a perpetual license where the term is indefinite.

Licensing Fee vs. Royalties are usage-based payments for using an asset or property. It's generally a percentage of gross revenue or net profit. Meanwhile, a licensing fee is money paid by someone using someone's property, but this fee is generally a fixed amount.

A software license agreement details how and when the software can be used, and provides any restrictions that are imposed on the software. A software license agreement also defines and protects the rights of the parties involved in a clear and concise manner.

Precisely identifying which intellectual property will be the subject of the license is necessary to ensure both parties are on the same page and not exceeding their rights. Scope of the Grant.Exclusivity.Territory.Term.Compensation.Termination.Conclusion.

The steps for making a license agreement are as follows: Download a template for a licensing agreement. Choose your role as the licensor or licensee. Define the license(s) in the agreement. Decide whether the license is exclusive or not. Settle the matter of fees and payment schedule. Add a renewal date and rules.

Key Takeaways Licensing revenues are income generated through the approved usage of one company's products, services, or intellectual property by another entity. Licensing agreements stipulate the terms and conditions under which an entity may use the licensor's materials and the fees that must be paid for its use.

A licensing agreement allows one party (the licensee) to use and/or earn revenue from the property of the owner (the licensor). Licensing agreements generate revenues, called royalties, earned by a company for allowing its copyrighted or patented material to be used by another company.

A royalty agreement, also called a licensing agreement, is a legally binding contract that grants a licensee the right to use a licensor's intellectual property. In exchange, the licensor will receive royalty payments for the use of their property. Royalty agreements are commonly found in the entertainment industry.

As a general rule, any well-drafted license agreement should address the following topics: Scope of the grant.Term and renewal.Performance standards and quotas.Payments to the licensor.Quality control, assurance and protection.Insurance and indemnification.Accounting, reports and audits.

License fees are usually a fixed payment that allows the licensor to use an IP for a set amount of time, while royalties are percentage or usage-based payments due each time a certain piece of intellectual property is used.

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Palm Beach Florida Author Oriented Software Royalty and License Agreement

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