License Agreements — How To Analyze Them
There is no denying the fact that when it comes to hardware and software quite a few things must be kept in mind. Unlike consumables like FMCG when it comes to buying software there is the issue related to licensing which needs to be taken care of. Hence, as a customer on must know how to go about the various aspects pertaining to licensing. For many there is no doubt that the knowledge pertaining to the finer points of licensing of software it not known fully. We could have situations where even a small sized company could have dozens of software solutions being used. Hence the onus lies on the customers to have some basic idea about the same failing which they could end being on the wrong side of the deal. Further they also could be breaching and circumventing some software copyright laws which could come with a heavy cost by way of penalties and even court proceedings.
Things To Keep In Mind
It would be wrong to brush all agreements under one single brush of straight jacket them with others. Any software licensing or other such licenses are unique and they could have different attributes, yardsticks, procedures, rules and regulations to be followed. Therefore it would be better to have some basic idea about the various things to be kept in mind when it comes to buying or even software solutions.
Agreement Parties And Relevant Dates
Amongst the various points there is no doubt that analysis of license agreement is extremely important and lot of time and effort should be spent on it. There are a number of factors to be taken into account and it may not be possible to list down each and every attribute. However, to begin with whenever a typical software agreement is signed, there are two agreement parties to it. One is the vendor and the other is the customer. Hence as a customer you must be sure that you are signing the contract only with the vendor. Signing it with somebody might result in the contract becoming null and void. Each and every software agreement that is renewable has some starting and ending date as an important aspect.
There Could Be Some Intangibles Being Used
It also is worth mentioning here that there could quite a bit of intangible being defined in the contract. Hence the same should be understood by the customers in particular so that they are not found wanting when it is needed the most.