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Apparently, it is critical for concerned parties to draft the terms and conditions of a license agreement/contract to avoid potential disputes thereon. KENFOX provides some suggestions on contents of the clauses for a license agreement/contract which should be taken into account as follows:

1.Preamble or "Whereas " clause

2.Definitions

3.Grant of license

4.Competitive Products

5.Supply of Technical

6.Procurement of Materials

7.Technical Assistance

8.Technical Training

9.Trademarks License

10.Quality Control

11.Considerations or Royalty

12.Payment

13.Report and Record

14.Taxes

15.The Most Favored Treatment

16.Warranty

17.Infringement Suits

18.Improvement

19.Sublicense

20.Confidentiality or Keeping Secrecy

21.Cancellation

22.Notice

23.Arbitration

24.Non Waiver

25.Force Majeure

26.Interpretation

27.Assignment

28.Governing Law

29.Modifications

30.Severability

31.Language

32.Heading

33.Term or Duration

34.Termination

35.Steps after Termination

36.Incontestability

37.Disputes