Par Lance is an Australian software company that develops specialized training software for Japanese and Arabic translation. The software is designed for businesses that need to complete formal negotiations. Not only does the software help translators pratice their skills, it also provides cultural competency training. While they have been established in the domestic market for six years, Par Lance is negotiating a licensing agreement of the product to a large multinational client, Syarikat Co., in Singapore.

The length of each answer should not exceed 300 words.

II.1 What licensing agreement risks does Par Lance need to investigate? (7 marks)

II.2 What are some licensing agreement clauses that Par Lance will need to consider seriously? (7 marks)

II.3 How can Par Lance protect itself from trade secret theft?