A Short Term License Agreement is utilized when one party (licensor) wishes to grant another party (licensee) temporary rights to use specific property or assets for a limited duration, typically less than one year. Under Singapore law, this agreement type provides a flexible framework for temporary licensing arrangements while ensuring proper protection of intellectual property rights and compliance with local regulations. The document incorporates essential elements such as license scope, payment terms, usage restrictions, and termination provisions, tailored to meet the specific requirements of short-term commercial relationships in Singapore's business environment.
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1. Parties: Identification and details of the licensor and licensee
2. Background: Context of the license agreement and brief description of the subject matter
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 termination conditions
6. Payment Terms: License fees and payment schedule
7. Governing Law: Specification of Singapore law as governing law
1. Intellectual Property Rights: Detailed IP provisions when complex IP rights are involved - recommended for technology or content licenses
2. Confidentiality: Non-disclosure obligations - include when sensitive information is shared between parties
3. Territory Restrictions: Geographical limitations on license use - include for territorially restricted licenses
4. Quality Control: Quality standards and monitoring - recommended for brand or trademark licenses
1. Schedule 1 - Licensed Materials: Detailed description of licensed property/content
2. Schedule 2 - Fee Schedule: Detailed breakdown of license fees and payment terms
3. Schedule 3 - Technical Specifications: Technical details of licensed technology or products
4. Schedule 4 - Usage Guidelines: Specific rules for using licensed material
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