The Source Code Purchase Agreement is essential when a company or individual seeks to acquire complete ownership of software source code under Belgian law. This document is typically used in scenarios such as company acquisitions, technology transfers, or when transitioning from licensed software to owned software. It covers crucial elements including detailed source code specifications, ownership rights transfer, warranties, maintenance provisions, and compliance with Belgian and EU regulations. The agreement is particularly important in the Belgian context due to specific requirements under the Belgian Code of Economic Law and EU data protection regulations. It should be used when the parties intend a complete transfer of intellectual property rights rather than just a license, and requires careful consideration of both technical specifications and legal requirements.
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1. Parties: Identification of the seller and purchaser, including full legal names, registration details, and addresses
2. Background: Context of the transaction, brief description of the source code, and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement, including technical terms related to the source code
4. Sale and Purchase: Core transaction terms, including clear statement of transfer of ownership and rights
5. Purchase Price and Payment: Purchase price, payment terms, schedule, and method of payment
6. Delivery and Acceptance: Specifications for how the source code will be delivered, acceptance testing procedures, and acceptance criteria
7. Seller's Representations and Warranties: Warranties regarding ownership, non-infringement, functionality, and completeness of the source code
8. Intellectual Property Rights: Transfer of IP rights, confirmation of ownership, and any retained rights
9. Documentation and Technical Information: Requirements for delivering associated documentation and technical information
10. Confidentiality: Obligations regarding confidential information and trade secrets
11. Liability and Indemnification: Limitations of liability and indemnification obligations
12. Term and Termination: Duration of agreement and circumstances for termination
13. General Provisions: Standard legal provisions including governing law, jurisdiction, entire agreement, and amendments
1. Source Code Escrow: Provisions for source code escrow arrangements, used when ongoing access to code updates is critical
2. Maintenance and Support: Terms for post-sale technical support and maintenance, if offered by the seller
3. Training and Knowledge Transfer: Provisions for training purchaser's personnel, used when knowledge transfer is part of the deal
4. Third-Party Components: Provisions dealing with third-party libraries or components, used when source code includes third-party elements
5. Data Protection: Specific data protection provisions, used when source code processes personal data
6. Export Control: Compliance with export control regulations, used for international transfers or sensitive technology
7. Transition Services: Terms for transition support services, used when complex implementation is required
8. Non-Competition: Restrictions on seller's competitive activities, used when protecting market position is crucial
9. Future Development Rights: Rights regarding future development or modifications, used when ongoing development is anticipated
1. Schedule 1 - Source Code Description: Detailed technical description of the source code, including architecture, components, and functionality
2. Schedule 2 - Acceptance Testing Procedures: Detailed procedures and criteria for acceptance testing
3. Schedule 3 - Third-Party Components: List and details of all third-party components, licenses, and permissions
4. Schedule 4 - Technical Documentation: List of all technical documentation to be delivered with the source code
5. Schedule 5 - Known Issues and Limitations: Documentation of known bugs, issues, and limitations of the source code
6. Schedule 6 - Development History: History of development, versions, and major changes
7. Appendix A - Payment Schedule: Detailed payment terms, milestones, and conditions
8. Appendix B - Security Requirements: Security standards and requirements for code delivery and storage
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