It is common to see such clause existed in the Employment Contract: -

Companies should conduct legal contract audits to ensure that their contracts comply with applicable laws and regulations and accurately reflect the agreement between the parties. These audits can reveal any potential issues or gaps in the contracts, helping the company to mitigate risks and avoid future legal disputes or challenges.

A nominee agreement is a legal contract between two parties where one party, known as the nominee, holds assets or shares on behalf of the other party, known as the beneficial owner. The nominee does not have any ownership or beneficial interest in the assets or shares but holds them on behalf of the beneficial owner.

Fundamental terms in a licensing agreement

1)            Scope of the License:

Define what intellectual property rights the licensor is granting to the licensee, and the extent of the license (exclusive vs non-exclusive, territory, time period, etc.).