PRODUCT LICENSING AGREEMENT.

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Agreements
June 11, 2022

PRODUCT LICENSING AGREEMENT.

This Product Licensing Agreement (hereinafter referred to as the “Agreement”) is made and entered on this ____ day of _____ 2021 (the “Effective Date”), between _______________, Contact Info: ____________________ (hereinafter referred to as the “Company/Licensor”), and _____, Address ____________ (herein referred to as the “Client/Licensee”).

NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties hereto, the Parties covenant and agree as follows:

  1. TERM

The term of this Agreement shall be for a period of Three Years commencing on the Effective Date herein.

  • SCOPE.

The Company is supplying the Client with the licensed product ___________ that shall be launched on the ____ day of _____ 2021. The Client shall have rights to use and exploit granted to the license herein. The Client shall receive the necessary license documentation, if applicable, for the use of the product. The right to use and exploit is limited to the purposes described under this Agreement. The Company shall keep all rights of the licensed product and that includes but is not limited to any copies of the material and the foregoing shall not affect the Client’s use of the product. Permitted uses of the licensed product shall include:

  1. ______________________________
  2. ______________________________
  3. ______________________________
  • FEES AND EXPENSES. 
      1. The Client shall pay Thirty Thousand Dollars ($30,000) for the services provided herein, Fifteen Thousand Dollars shall be paid on the Effective Date herein and the balance paid in 30 days.
      2. The Client shall be responsible for other expenses such as travel and hotel expenses for the Company’s employees if they travel onsite for deployment.
  • INDEPENDENT CONTRACTOR.
      1. The Company shall be retained as an independent contractor.  The Company shall be fully responsible for payment of their own income taxes on all compensation earned under this Agreement.  The Client shall not withhold or pay any income tax, social security tax, or any other payroll taxes on the Company’s behalf during the term of this Agreement.
      2. The Company shall have no authority to bind the Client in any manner and/or make any other agreement or representations on the Client’s behalf based on the product covered under this Agreement without the Client’s written consent.
  • COPYRIGHT.

The Company owns the sole right over the product including but not limited to the IP. The Client shall only exercise the rights of use of the license over the product. The Client shall not modify or distribute the product in a way that is not agreed upon with the Company. The Client shall not try to disable or bypass any protection established by the Company unless explicitly permitted by the mandatory legal provisions.

  • TERMINATION/CANCELATION.

The Parties acknowledge that any Party can terminate/cancel this Agreement at any time provided that they issue a 90 days Written Notice stating the reasons for the termination/cancellation.

  • DISPUTE RESOLUTION.

In the event of disputes arising from the execution of this Agreement, the Parties shall use binding arbitration as provided for under the Federal Arbitration act to solve the matter.

  • MODIFICATION, GOVERNING LAW AND JURISDICTION.
    1. This Agreement contains the entire Agreement between the Parties relating to the subject matter hereof and supersedes any and all prior agreements or understandings, written or oral, between the parties related to the subject matter hereof.  No modification of this Agreement shall be valid unless made in writing and signed by both parties hereto. 
    2. This Agreement shall be governed by and construed in accordance with the laws of the State of _________, USA. Exclusive jurisdiction and venue shall be in _________, USA.
    3. This Agreement shall be binding upon and inure to the benefit of the Company and the Client and their respective successors and assigns, provided that the Client may not assign any of their obligations under this Agreement without the Company’s prior written consent.  

IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective Date.

COMPANY: _____________            _________________________           ___________

                        (SIGNATURE)                  (NAME)                                             (DATE)

CLIENT: _____________        ________________________          ___________

                      (SIGNATURE)                      (NAME)                                   (DATE)

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