Licensor Oriented Software License Agreement
What is this form?
The Licensor Oriented Software License Agreement is a legal document that establishes the terms under which a Licensor grants a Licensee the right to use specific software. Unlike other software agreements, this document outlines the obligations of both parties regarding the use, distribution, and maintenance of the software while protecting the intellectual property rights of the Licensor. It serves as a key resource for businesses wishing to formalize their software usage arrangements with confidence.
Key components of this form
- Definitions: Clarifies key terms used throughout the agreement, including "Licensor," "Licensee," and "Software."
- Software License: Specifies the non-exclusive rights granted to the Licensee to use the software, and the conditions under which these rights can be exercised.
- Installation and Acceptance: Details the delivery process and how acceptance of the software occurs based on performance testing.
- Price and Payment: Outlines the payment structure, including fees and tax responsibilities.
- Confidentiality: Protects sensitive information and limits disclosure of proprietary data shared during the agreement.
- Termination: Describes conditions under which the agreement may be terminated and the responsibilities upon termination.
When to use this form
This form should be used when a business (the Licensee) intends to acquire the rights to use software developed by another company (the Licensor). It is suitable in various situations, such as software development agreements, partnerships involving shared software resources, or when licensing software changes. Using this form ensures both parties are clear on their rights and responsibilities, protecting their interests throughout the agreement.
Who needs this form
- Businesses seeking to license software for internal use.
- Software developers looking to formalize usage and distribution rights.
- Contract managers responsible for overseeing vendor agreements.
- Legal professionals drafting software agreements for clients.
Completing this form step by step
- Identify the parties involved by entering the names and addresses of both the Licensor and Licensee.
- Define the software being licensed and any related documentation in the specified sections.
- Specify the terms of payment, including the license fee and any applicable taxes.
- Indicate the delivery date and target date for acceptance of the software by the Licensee.
- Ensure both parties review the terms and sign the agreement to validate it legally.
Notarization guidance
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Not clearly defining the scope of the software license or usage rights.
- Failing to include payment terms or not specifying consequences for late payments.
- Omitting confidentiality clauses, which could lead to unintended data exposure.
Benefits of using this form online
- Convenience of downloading the form from any location, saving time.
- Editability allows users to customize provisions to fit their specific needs.
- Access to templates drafted by licensed attorneys, ensuring legal compliance.
Legal use & context
- This agreement serves as a legally binding contract between the Licensor and Licensee.
- It protects the intellectual property rights of the Licensor while outlining the limitations of the use granted to the Licensee.
- The failure to adhere to the terms may result in legal disputes or financial liabilities.
Main things to remember
- The Licensor Oriented Software License Agreement formalizes the use of software between parties.
- Clear definitions and terms help prevent misunderstandings about usage rights.
- It is essential for both parties to agree on payment terms and responsibilities to avoid conflicts.
Looking for another form?
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FAQ
Download a template for a licensing agreement. Choose your role as the licensor or licensee. Define the license(s) in the agreement. Decide whether the license is exclusive or not. Settle the matter of fees and payment schedule. Add a renewal date and rules.
User agreements like EULAs are legally binding contracts between the software author and the end-user. End User License Agreements are enforceable as long as it is clear that it is a contract and both parties can understand the terms.
What is a Licensing Agreement? A licensing agreement is a contract between two parties (the licensor and licensee) in which the licensor grants the licensee the right to use the brand name, trademark, patented technology, or ability to produce and sell goods owned by the licensor.
An example of a licensing agreement is a contract between the copyright holders of software and another company, allowing the latter to use the computer software for their daily business operations.
Setting up Your Licensing Agreement. Granting the License. Limiting Your Liability. Adding Boilerplate Clauses. Finalizing the Licensing Agreement.
Perhaps the key difference between a EULA and a software license agreement is that a EULA is often meant for scenarios where many users could be using the software on a continuous basis and a software license agreement is more often used for business-to-business, often times for finite engagements.
A software license agreement typically has broad-form confidentiality provisions that also provide that certain items fall into the bucket of one or the other party (e.g., the software for a licensor, certain data for a licensee, etc.).
A software license is a contract between the entity that created and supplied an application, underlying source code, or related product and its end user.
