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Product Royalty Agreement
1. Parties: Identification and details of the contracting parties
2. Background: Context of the agreement and relationship between the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Grant of Rights: Scope of the license and rights granted for the products
5. Products: Definition and specification of products covered by the agreement
6. Royalty Payments: Royalty rates, calculation methods, and payment terms
7. Reporting and Auditing: Requirements for sales reporting and audit rights
8. Quality Control: Quality standards, inspection rights, and approval processes
9. Intellectual Property: IP ownership, protection, and enforcement provisions
10. Representations and Warranties: Standard warranties regarding product rights and capabilities
11. Term and Termination: Duration of agreement and termination provisions
12. Confidentiality: Protection of confidential information exchanged
13. General Provisions: Standard legal clauses including governing law, notices, and assignment
1. Product Development: Used when the agreement includes ongoing product development or modifications
2. Marketing and Promotion: Include when specific marketing requirements or restrictions apply
3. Territory Restrictions: Used for agreements with geographical limitations
4. Minimum Performance Requirements: Include when setting minimum sales or revenue targets
5. Distribution Channels: Used when specifying permitted sales channels
6. Currency and Exchange Rates: Include for international agreements with multiple currencies
7. Tax Provisions: Detailed tax provisions for cross-border agreements
8. Insurance Requirements: Include when specific insurance coverage is required
9. Force Majeure: Used when specific force majeure provisions are needed beyond standard clauses
1. Schedule 1 - Products: Detailed specifications of all products covered by the agreement
2. Schedule 2 - Royalty Rates: Detailed breakdown of royalty rates and calculation methods
3. Schedule 3 - Quality Standards: Specific quality requirements and testing procedures
4. Schedule 4 - Reporting Template: Standard format for sales and royalty reports
5. Schedule 5 - Approved Manufacturing Facilities: List of approved production locations if applicable
6. Schedule 6 - Trademark Usage Guidelines: Rules for using associated trademarks and branding
7. Schedule 7 - Territory Definition: Detailed description of geographical territories if applicable
8. Appendix A - Contact Details: Key contacts for both parties for various purposes
9. Appendix B - Approval Procedures: Detailed procedures for product or marketing approvals
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