Software licenses and related services are generally limited in time and are subject to early termination. Customers should understand the term of validity of each software license and related services and take appropriate steps to properly exercise renewal rights and avoid early termination. Most licensors will want compensation and additional measures to serve as licensee`s exclusive remedy for infringement and intellectual property rights. Some licensees do not agree with exclusive remedies regarding infringement issues and expect them to have their full range of remedies under the software license agreement. Some things you need to pay attention to when evaluating these provisions: The compensation most requested by licensees is a provision relating to compensation for intellectual property. As a general rule, licensees seek full indemnification, defense, and enforce indemnification rules with respect to third-party claims against licensee`s use of the software. In some cases, timing is a factor and timelines for quarterly or annual accounts may affect a donor`s willingness to negotiate certain arrangements. For other transactions, the nature or intended use of the software is appropriate for a negotiated transaction. This is more often the case when a lessee considers the transaction to be essential in size, the software is „business-critical“ or when there are less viable alternatives on the market.
Below is a short list of common license agreement types. This is not a complete list, you may find that we do not deal in this letter with the type of license agreement that you have established or in which you participate. If we don`t address the nature of the license agreement you have or we only have questions regarding the termination of a license agreement, call Larsen Law today at 303-520-6030 to arrange your first free consultation. You may find it helpful to arrange a consultation with a lawyer experienced in creating and interpreting licensing agreements. License agreements are legally binding contracts. They are not always easy for laymen to understand when it comes to their rights, their duties and whether they have the right to terminate the contract. An experienced attorney can help you understand if you have the right to terminate the license agreement or if you need to do something before the contract can be terminated. . .