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Lifetime Software License
"I need a Lifetime Software License agreement for my AI-powered accounting software being licensed to a large Nigerian bank, with specific provisions for source code escrow and 24/7 technical support starting March 2025."
1. Parties: Identification of the licensor and licensee with full legal names and addresses
2. Background: Context of the agreement, brief description of the software, and purpose of the license
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Grant of License: Scope of the perpetual license, including usage rights, restrictions, and territories
5. License Fee: One-time payment terms and conditions for the lifetime license
6. Intellectual Property Rights: Confirmation of licensor's ownership and protection of IP rights
7. Licensee Obligations: Key responsibilities and restrictions on the licensee's use of the software
8. Technical Support and Maintenance: Terms of ongoing support, if any, and associated costs
9. Warranties and Representations: Licensor's warranties regarding software ownership, performance, and compliance
10. Limitation of Liability: Limits on licensor's liability and disclaimers
11. Confidentiality: Protection of confidential information exchanged between parties
12. Term and Termination: Duration of the agreement and conditions for termination in case of breach
13. Post-Termination: Rights and obligations of parties after termination for breach
14. General Provisions: Standard legal clauses including governing law, notices, and assignment
1. Source Code Escrow: Terms for source code protection and access conditions - used when source code access might be required
2. Third-Party Software: Details of incorporated third-party software and associated terms - used when the software includes third-party components
3. Data Protection: Specific data protection and privacy terms - used when software processes personal data
4. Export Controls: Export regulation compliance - used for international licensing
5. Professional Services: Terms for additional implementation or training services - used when professional services are included
6. Service Level Agreement: Performance standards and metrics - used when ongoing performance guarantees are required
1. Schedule 1 - Software Description: Detailed technical specifications and functionality of the licensed software
2. Schedule 2 - License Fee: Detailed breakdown of the one-time license fee and payment terms
3. Schedule 3 - Technical Support Terms: Detailed support and maintenance terms, response times, and service levels
4. Schedule 4 - Authorized Users: Definition and limitations of authorized users and usage parameters
5. Appendix A - Acceptable Use Policy: Detailed guidelines for acceptable use of the software
6. Appendix B - Technical Requirements: Minimum system requirements and technical specifications for software operation
Authors
Information Technology
Banking and Financial Services
Healthcare
Education
Manufacturing
Retail
Professional Services
Government
Telecommunications
Energy and Utilities
Construction
Transportation and Logistics
Legal
Information Technology
Procurement
Finance
Compliance
Software Development
Enterprise Architecture
Operations
Risk Management
Vendor Management
Chief Technology Officer
Legal Counsel
IT Director
Software Licensing Manager
Procurement Manager
Chief Information Officer
Contract Manager
IT Procurement Specialist
Legal Operations Manager
Chief Financial Officer
Technology Compliance Officer
IT Asset Manager
Software Development Manager
Enterprise Architect
Business Development Manager
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