Free Software Purchase and Assignment Agreement

This agreement outlines the transfer of software and all of its associated intellectual property rights

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An individual/business that owns all of the rights to software can grant licenses to others to allow them to use that software in a limited capacity. However, software, like other possessions, can also be fully transferred from one owner to another. When there is a change in the ownership in software and all associated intellectual property rights, a Software Purchase and Assignment Agreement may be used to document the transfer.

 

The Software Purchase and Assignment Agreement outlines the details of the change for all parties involved. Whether the seller was hired to create this software for the purchaser, or the purchaser has found software it believes is highly marketable, this agreement will affirm the transfer of the rights.

Frequently Asked Questions

 

A software purchase and assignment agreement outlines the transfer of software and all of its associated intellectual property rights from one party to another.

 

 

A licensing agreement is used by someone who owns the intellectual property to allow another party the use of said property for a specific purpose and amount of time.

In contrast, a purchase and assignment transfers the total ownership of the software and its intellectual property rights indefinitely from one party to another. 

To create your agreement, you must provide:

  • Effective Date: Select the date this agreement will be signed and made effective. 

  • Governing State: Select which state’s laws will apply to the terms of this agreement.

  • Dispute Venue: Provide the county and state where disputes arising under this agreement must be brought.

  • Seller Details: Provide the name, contact information, and signing representative of the seller.

  • Purchaser Details: Provide the name, contact information, and signing representative of the purchaser.

  • Software Info: Give the name of the software.

  • Software Development: Specify whether the seller is the original developer of the software.

    • If the seller is the developer, specify whether they were hired by the purchaser to develop the software and whether they will provide continuing technical support for the software.

  • Transfer Information: Provide the deadline and method of transfer for the software, including its source code, object code, associated documentation, and technology developed specifically for use with the source code.

  • Consideration: Consideration is the total payment that will be made in exchange for the software, minus what has already been received by the developer under any prior agreement(s). Describe the amount being transferred pursuant to this agreement.

  • Warranties: Specify whether the software has been previously disclosed to third parties and whether an existing claim of infringement has been filed by the seller.

 

 

As part of the transfer of the software and all of its associated intellectual property rights, only the owner at the time of the lawsuit will be liable.

 

Our propriety form generator will assist you in creating your customized Software Purchase and Assignment Agreement within minutes. Answering the questions is not complicated – you only fill in the requested information and we will put it together for you.

Once you complete the questionnaire and place your order, it will be available for immediate download in either PDF or Word document from your secure online account including a step-by-step guide on how to use your document.   

 

Although the agreement does not need to be notarized to be recognized as legally valid, the use of a notary ensures that no one challenges any signatures later.