Form Overview
The Software Purchase Agreement structures a transaction under which seller conveys to purchaser all intellectual property ownership rights to a certain software in exchange for payment and certain sublicensing rights. The technology asset sold is defined as software and references an exhibit (not included) for more specific definition. The definition specifically includes source code, as well as object code and executable code. The price is paid to seller as of the effective date. Seller also receives sublicensing rights allowing his existing business base for the software to remain in his portfolio, including seller's current service arrangements with such licensees. The property sold includes the documentation and related trademarks. Seller grants a warranty of performance referencing the documentation which includes the manuals. The Agreement includes a two-year noncompete provision, in connection with the asset, as well as a requirement for cooperation in the registration of purchaser's ownership of the asset. You can find answers to your questions using our extensive library of
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