The Software Source Code Purchase Agreement is essential when a company wishes to acquire complete ownership and control of software source code, rather than just obtaining a license. This comprehensive agreement, governed by English and Welsh law, is particularly relevant in scenarios such as company acquisitions, technology transfers, or when bringing development in-house. The document covers crucial aspects including IP rights transfer, warranties, technical specifications, known issues, and ongoing support arrangements. It ensures compliance with relevant legislation including the Copyright, Designs and Patents Act 1988 and data protection regulations.
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1. Parties: Identification and details of the buyer and seller
2. Background: Context of the transaction and brief description of the software
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase: Core transaction terms including price and payment details
5. Intellectual Property Rights: Transfer of IP rights and ownership provisions
6. Warranties and Representations: Seller's guarantees regarding ownership, quality, and functionality
7. Confidentiality: Protection of source code and related confidential information
1. Maintenance and Support: Terms for ongoing technical support, applicable when post-sale support is included in the agreement
2. Third Party Components: Details of any third-party software components and associated rights and obligations
3. Export Controls: Compliance with export regulations for international transactions
4. Source Code Escrow: Arrangements for source code safekeeping with third-party escrow agent
1. Schedule 1: Software Description: Detailed technical description of the source code and components
2. Schedule 2: Technical Documentation: Documentation, manuals, and technical specifications
3. Schedule 3: Third Party Licenses: List and details of third-party licenses included
4. Schedule 4: Known Issues and Limitations: Documentation of known bugs or limitations
5. Schedule 5: Development History: Version history and development documentation
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