Document background
An Irrevocable License is a crucial legal instrument used when parties intend to establish permanent, unchangeable rights to use intellectual property or other assets. This document type is particularly relevant in the Philippine legal context, where it must comply with both the Intellectual Property Code and Civil Code requirements. The agreement is commonly used in situations requiring long-term certainty, such as technology transfers, manufacturing rights, or perpetual software licenses. The irrevocable nature of the license means that, once granted, the rights cannot be withdrawn except under specifically defined circumstances, making it essential for situations where the licensee needs to make significant investments or long-term commitments based on the licensed rights. The document includes comprehensive provisions for protecting both parties' interests while ensuring compliance with Philippine regulatory requirements.
