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The Termination of License Agreement is essential when parties wish to formally end their existing licensing arrangement before its natural expiration or through mutual agreement. This document is particularly relevant in the Belgian legal context, where specific requirements under the Civil Code and Code of Economic Law must be observed. It is typically used when technological changes, business restructuring, or strategic decisions necessitate the early termination of licensing rights. The agreement ensures proper documentation of the termination process, addresses outstanding obligations, and provides clear guidelines for post-termination conduct. It includes crucial elements such as final settlements, intellectual property handling, and confidentiality obligations, all while ensuring compliance with Belgian and EU regulations.
