Royalty Agreement for Intellectual Property | Canada
Set the terms for payment of royalties on intellectual property with this contract template for Canadian businesses.
- This agreement covers royalties accruing on intellectual property that was developed by the seller, which is being transferred to a purchaser as part of a transfer of business assets.
- The intellectual property will continue to be used by the purchaser in connection with the business operations, and royalties will continue to accrue.
- The purchaser agrees to pay the seller an ongoing royalty for a specified number of years following the closing of the purchase and sale transaction.
- The royalty will be calculated based on the customer base and non-exempted gross earnings of the business.
- This Royalty Agreement refers to the laws of Canada. It can be used in any Canadian province or territory. A French language version may be required in Quebec.
Last Updated: 02-March-2021