If you`re in the business of providing OEM software to other companies, it`s important to make sure that you have a solid software license agreement in place. This agreement will protect both you and your clients from any disputes or legal issues that may arise in the future. To make things easier for you, here`s a breakdown of the key sections that should be included in your OEM software license agreement template.
1. Grant of License
This section should define the scope of the license that you`re granting to your client. It should specify which of your software products are covered by the agreement and the conditions that must be met for the client to use your software.
2. Delivery and Acceptance
This section should outline the delivery process for the software, including any installation or setup instructions that are necessary. It should also detail the acceptance process, including any testing requirements or acceptance criteria that must be met before the client can start using the software.
3. Payment Terms
This section should describe the payment terms for the software license, including any upfront fees or ongoing payments that are required. It should also outline any payment schedules or milestones that must be met before the client can access certain features or functionality.
4. Intellectual Property Rights
This section should cover the ownership of the intellectual property rights for the software, as well as any restrictions on how the software can be used, modified, or distributed. It should also address any confidentiality or non-disclosure agreements that are necessary to protect your proprietary information.
5. Representations and Warranties
This section should outline any representations and warranties that you`re making about the software, including its functionality, compatibility, and performance. It should also address any obligations that you have to provide updates, patches, or other support to the client.
6. Limitation of Liability
This section should define the limitations of your liability for any damages or losses that arise from the use of your software. It should also outline any indemnification or insurance requirements that you have in place to protect your company and your clients from any legal or financial risks.
7. Termination and Remedies
This section should describe the circumstances under which the agreement can be terminated, including any breach of the terms or conditions. It should also outline any remedies or damages that are available to either party in the event of a dispute or breach of contract.
By including these key sections in your OEM software license agreement template, you can ensure that both you and your clients are clear on the terms and conditions of your software license. With a solid agreement in place, you can focus on delivering high-quality software products that meet the needs of your customers.