License Agreement For Software Product Template for India

The License Agreement For Software Product is a crucial legal document used when a software owner wishes to grant rights to use their software product while retaining ownership of the intellectual property. This agreement is specifically tailored for the Indian legal framework, incorporating requirements from the Information Technology Act, 2000, Copyright Act, 1957, and relevant data protection regulations. It's typically used in business-to-business transactions where software is being licensed for commercial use, establishing clear terms for software usage, maintenance, support, and liability limitations. The agreement protects both the licensor's intellectual property rights and the licensee's usage rights while ensuring compliance with Indian legal requirements for software licensing and digital transactions.

1. Parties: Identification of the Licensor and Licensee with complete legal names and addresses

2. Background: Context of the agreement, brief description of the software product, and purpose of the license

3. Definitions: Detailed definitions of key terms used throughout the agreement including Software, Documentation, Intellectual Property Rights, Licensed Users, etc.

4. Grant of License: Scope and nature of the license being granted, including type (exclusive/non-exclusive), territory, and permitted uses

5. License Fees and Payment Terms: Details of license fees, payment schedule, taxes, and late payment consequences

6. Delivery and Installation: Terms regarding software delivery, installation process, and acceptance testing if applicable

7. Intellectual Property Rights: Confirmation of ownership rights, protection of IP, and restrictions on use

8. Licensee Obligations: Key responsibilities and restrictions on the licensee regarding software use

9. Support and Maintenance: Terms for technical support, updates, and maintenance services

10. Warranties and Representations: Warranties regarding software performance, IP rights, and compliance with laws

11. Limitation of Liability: Limitations on liability and exclusions of certain types of damages

12. Term and Termination: Duration of agreement, renewal terms, and termination rights

13. Confidentiality: Protection of confidential information exchanged during the license relationship

14. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes

15. General Provisions: Standard boilerplate clauses including notices, assignment, force majeure, etc.