Here are Free Vendor Oriented Software License Agreement Templates to help you draft your License Agreement easily. Moreover, you can also check out our post on Partnership Agreement Templates.
When a software development company wants to allow the legal use of software in the market, it issues a legal license for the use of the software. The license can be of any type and the limits can also change as per vendor and software type. The agreement between the vendor and software owner for software licensing is known as the vendor-oriented software license agreement.
With this agreement, the vendor doesn’t need to pay for the software except for the rent or usage fee. Where the original rights and ownership of the software belong to the company or primary owner.
Key Elements of Vendor-Oriented Software License Agreement:
- Name of the company/software provider/owner of the software program
- Name of the licensee/client/ individual or company that will lend the software
- Details of the software to be lent to the client
- Specifications of the software i.e. use to repair, maintenance, recovery, etc.
- Compensation/rent offered by the client to the software owner
- Payment schedules for the compensation/rent
- Duration of lending the software
- Limitations to using and operating the software for the client/lender
- Rights, responsibilities, and obligations of both parties
- Warranties offered by the software owner
- Terms and conditions of the agreement
- Mutually agreed clauses of the agreement
- Termination of the agreement
- Results of violation of the agreement
- Validation and limitations of the agreement
- Signature of both parties i.e. owner and licensee
Free Vendor Oriented Software License Agreement Templates
Download the Free Vendor Oriented Software License Agreement Template. These templates can easily help you to prepare your Software License Agreement effectively.
Brief Description of Vendor-Oriented Software License Agreement:
When a software development company develops a software program. Most of the time, clients want to purchase it with all legal rights and ownership. So that they can use it as they require in their business. But, it is also a fact that if you want to buy the software with all legal rights and full ownership. You will have to pay a huge amount to the developer.
In this situation, companies want the software but don’t want to pay for the high value. They just lend it or get it on lease. This is a common process in which a vendor approaches a software development company. They ask them to give him lease rights for using the software as a legal user without paying excessive costs.
If they mutually agree on terms and conditions, the developer provides a user license to the vendor with software rights that include the client being a legal licensee of the software and he has the right to use it up to some limitations and under jurisdictions defined by the developer. The agreement that both partners sign to complete the licensing process is known as the vendor-oriented software license agreement and it includes mostly the terms and conditions about the use of the software by the vendor along with the duration to renew the license and compensation to pay to the developer in return for lending the software.
