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Product License
"I need a Product License agreement for my new cloud-based software solution, which will be licensed to enterprise customers in the US and Canada, with specific restrictions on sublicensing and data protection requirements."
1. Parties: Identification of licensor and licensee, including legal entities and addresses
2. Background: Context of the agreement and brief description of the product being licensed
3. Definitions: Key terms used throughout the agreement
4. Grant of License: Scope and nature of the license being granted
5. License Fees: Payment terms, amounts, and schedule
6. Term and Termination: Duration of license and conditions for termination
7. Intellectual Property Rights: Ownership and protection of IP rights
8. Warranties and Disclaimers: Product warranties and limitations
1. Territory Restrictions: Geographic limitations on license use - include when license is restricted to specific regions
2. Sublicensing Rights: Terms for sublicensing to third parties - include when sublicensing is permitted
3. Support and Maintenance: Terms for ongoing support - include when product requires technical support
4. Data Protection: Data handling and privacy requirements - include when product involves personal data processing
1. Schedule 1 - Product Specification: Detailed technical specifications of the licensed product
2. Schedule 2 - Price List: Detailed pricing structure and payment terms
3. Schedule 3 - Service Level Agreement: Performance metrics and support standards for software or technical products
4. Schedule 4 - Acceptable Use Policy: Terms of acceptable product usage for software or online services
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