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Termination Of License Agreement Template for Austria

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Key Requirements PROMPT example:

Termination Of License Agreement

"I need a Termination of License Agreement for immediate termination of a software license due to licensee's breach of payment terms, with stringent provisions for data deletion and source code removal by March 1, 2025."

Document background
The Termination of License Agreement is a crucial document used when parties wish to formally end their existing licensing relationship under Austrian law. It becomes necessary when either party wishes to terminate the license due to various circumstances such as breach of contract, mutual agreement, or completion of the license term. The document addresses key aspects required under Austrian legislation, including the Austrian Civil Code (ABGB) and Commercial Code (UGB), ensuring proper handling of intellectual property rights, data protection, and post-termination obligations. This document is particularly important in technology, manufacturing, and creative industries where licensed intellectual property must be properly managed during the termination process. It includes specific provisions for the return or destruction of licensed materials, cessation of use, settlement of outstanding payments, and any surviving obligations that continue beyond the termination date.
Suggested Sections

1. Parties: Identification of the licensor and licensee, including full legal names, registration details, and addresses

2. Background: Reference to the original license agreement, including its date and subject matter, and brief context for the termination

3. Definitions: Key terms used in the agreement, including references to defined terms from the original license agreement

4. Termination: Clear statement of termination, effective date, and grounds for termination if relevant

5. Acknowledgment: Mutual acknowledgment of the termination and its effect on the original agreement

6. Return of Materials: Obligations regarding the return or destruction of licensed materials, documentation, and copies

7. Cessation of Use: Requirements for the licensee to stop using the licensed property and remove it from all systems

8. Outstanding Payments: Provisions for settling any outstanding fees or royalties

9. Surviving Provisions: Identification of clauses from the original agreement that survive termination

10. Governing Law: Confirmation of Austrian law as governing law and jurisdiction

Optional Sections

1. Data Protection: Required when the license involves personal data processing, addressing data handling post-termination

2. Source Code Escrow: Needed for software licenses where source code is held in escrow

3. Transition Assistance: Used when the licensee requires support during transition to alternative solutions

4. Third Party Rights: Required when the termination affects sublicenses or third-party beneficiaries

5. Non-Compete Obligations: Include when post-termination competitive restrictions are relevant

6. Stock Disposal: Needed for licenses involving physical products or inventory

7. Certification of Compliance: Optional requirement for licensee to certify compliance with termination obligations

Suggested Schedules

1. Schedule 1 - Original License Agreement: Copy or reference to the original license agreement being terminated

2. Schedule 2 - Licensed Materials: Detailed list of all materials, software, or IP covered by the termination

3. Schedule 3 - Outstanding Payments: Statement of any outstanding fees, royalties, or payments due

4. Schedule 4 - Termination Checklist: Checklist of actions required to complete the termination process

5. Appendix A - Confirmation of Destruction: Template for certifying destruction of licensed materials

6. Appendix B - Transition Timeline: If applicable, timeline for transitioning away from licensed materials

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


































Clauses




























Relevant Industries

Technology

Software Development

Manufacturing

Media and Entertainment

Pharmaceuticals

Biotechnology

Consumer Goods

Industrial Products

Telecommunications

Publishing

Research and Development

Healthcare

Relevant Teams

Legal

Intellectual Property

Compliance

Operations

Commercial

Business Development

Technology

Research and Development

Procurement

Finance

Information Technology

Relevant Roles

Legal Counsel

Intellectual Property Manager

Licensing Manager

Contract Administrator

Business Development Manager

Chief Technology Officer

Chief Legal Officer

Compliance Officer

IP Rights Manager

Commercial Director

General Counsel

Operations Manager

Product Manager

Technology Transfer Officer

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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