Assignment of Copyright with Royalty (India)
This document is a formal agreement for the assignment of copyright from an author to a publisher in exchange for royalty payments. It details the transfer of rights under the Copyright Act, 1957, including provisions for publishing timelines, royalty percentages, profit sharing, and the author's obligation to revise the work. It also includes an arbitration clause and an indemnity provision regarding the originality and legality of the content.
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About this template
What is this template?
This document is a formal transfer of intellectual property that converts the original owner's rights into a contractual right to receive money. It is not a license, as the Assignee becomes the legal owner of the copyright, but it includes an audit clause allowing the original creator to verify financial records. It contains specific fields for the percentage of royalties and the frequency of accounting statements.
When should you use it?
Use this document when a creator wants to sell their work entirely but maintain a financial stake in its success, rather than accepting a single lump-sum payment. If you only wish to grant permission to use the work while retaining ownership, use a Copyright License Agreement instead.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Assignment of Copyright | The Assignor transfers the entire copyright and all associated intellectual property rights in the work to the Assignee for the full legal term. |
| 2 | Consideration and Royalty | The Assignee pays an upfront fee and a recurring royalty percentage of gross revenue generated from the exploitation of the work. |
| 3 | Payment Terms | Specifies that royalties must be calculated every six months and paid within 30 days of the end of each accounting period. |
| 4 | Right of Inspection | Grants the Assignor the right to inspect the Assignee's books and records once per year to verify the accuracy of royalty payments. |
| 5 | Territory | Defines the geographical scope of the assignment as the territory of India unless otherwise specified in the schedule. |
| 12 | Governing Law | Subject to the exclusive jurisdiction of the courts located at a specific Indian city and governed by the laws of India. |
Who it's for
- an author or artist in India transferring rights to a publisher or distributor for a percentage of sales
- an Indian software developer assigning code ownership to a client while retaining a right to future royalties
- a content creator selling intellectual property rights where the value depends on future commercial performance
How long it runs and how it's signed
Law it's drafted under
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