It is customary for licensees to structure licences to provide for an explicit termination of the licence for the policyholder who has failed or is liquidated in the rescue of the business. In this way, the licensee can protect its valuable IP assets. Try to limit the scope of the license to areas where the licensee is available. If the taker wishes to expand its market into « virgin areas », the termination is subject in the same way to the agreement reached between the parties and may be unilateral and without reason if the parties consent. However, if an agreement is silent on both its duration and termination, the courts will take into account a clause stipulating that an agreement can be terminated without notice, whereas in any event, the adequacy is assessed on the basis of the facts and not on the basis of a legal standard. Nor is there any obligation for a good reason not to extend it. Normally, the liquidation of the licensee would result in the termination of the license agreement. The policyholder may contractually agree to obtain an irrevocable right to the reuse of the IP when the licensee is liquidated. Several provisions of the Competition Act are relevant.
Section 5 (1) of the Competition Act prohibits agreements between companies in a vertical relationship that significantly prevent or weaken competition in a market or relate to the minimum sustainability of resale prices. In addition, the Competition Act prohibits the abuse of a dominant position. Itasca will correct errors in the software for free at least twelve (12) months after the purchase date of the license for the software. Notification of an alleged error must be made in writing, with a complete list of entry and exit files and a description of the error. If the software contains an error after Itasca shuts down, Itasca will correct or replace the copy at no cost to the user or refund the original purchase price of the software. Make sure that interest on late payments is punishable – they must exceed the cost of the licensee`s loan. Otherwise, the licensee could easily find a banker with the licensee. (c) require the buyer or taker to purchase unprotected items or items from the seller, licensee or applicant from the seller, licensee or applicant; Everything you can see, hear or experiment in the software, including, but not just on graphics, videos, audio recordings, texts, software, photographs, scripts, software screens, design elements, artworks, models, layout designs, interactive and other functions, the underlying concepts and ideas of the software (« content ») and the trademarks, trademarks and logos (« brands ») incorporated are owned by Itasca or licensed, subject to copyright and other intellectual property rights, in accordance with U.S. and international laws.
Itasca owns the copyright to selecting, coordinating, matching and improving content. Unauthorized use of materials on software or trademark use may violate copyright, trademark rights and other laws. Itasca and Itasca logos are trademarks of Itasca. Only license the rights that you intend to exercise to the licensee. Also beware of unspoken licensing of IP laws. For example, according to South African Patent Law: If the agreement does not provide for minimum licensing fees, you consider an initial period of 2 to 3 years that is filled at the discretion of the licensee /for certain obstacles. Technical assistance is provided directly by the Itasca office or the authorized agent through whom the license was acquired.