License Agreements are legal documents which give someone permission to do a certain activity or to use a certain property, software etc…that belongs to some other party or person. These agreements are enforceable by law and any violation of the terms and conditions mentioned in these agreements can lead to legal implications.
There are many types of license agreements. The following are a few examples:
- Software license agreement
- Property license agreement
- Business license agreement
Since license agreements are formal documents hence they must be framed by following a certain format. The following points shall help you to draft a license agreement correctly:
- Start by giving the names of the involved parties and their addresses and other contact information.
- It is important to write the signing date as well as the duration or span of the agreement along with the date of termination.
- The terms and conditions which describe the obligations and rights of the parties must be written in a detailed way and in points or bullets.
- It is important to mention all the financial details in a clear manner too in the agreement.
- At the end of the agreement, both parties and the witnesses must sign after thoroughly reading it.
Category: License Agreements