Cook Illinois is a renowned company that specializes in providing transportation services. They offer various software solutions to streamline their operations, which are governed by an Assignment and Assumption of Software License Agreement. This agreement is a legal document that outlines the transfer of rights and responsibilities related to the software license from one party to another. It is a crucial aspect when Cook Illinois sells, mergers, or transfers its business operations to another company. The Cook Illinois Assignment and Assumption of Software License Agreement typically includes the following key elements: 1. Parties: It clearly identifies the parties involved in the agreement, including Cook Illinois as the licensor and the acquiring company as the licensee. 2. Effective date: This section specifies the date when the assignment and assumption of the software license takes effect. 3. Software license details: The agreement provides a comprehensive description of the software license being assigned and assumed, including the version, specific modules, and any support or maintenance services associated with it. 4. License transfer: It outlines the process of transferring the software license ownership from Cook Illinois to the acquiring company. This may involve the assignment of rights, title, and interest in the software and any related documentation. 5. Liabilities and warranties: This section defines the liabilities of Cook Illinois, especially concerning the functionality and performance of the software. It may outline warranty disclaimers or limitations on liability. 6. Governing law: The agreement specifies the jurisdiction and laws that govern the agreement, ensuring any disputes are resolved in accordance with those laws. 7. Confidentiality: It addresses the confidentiality of any sensitive information shared during the assignment and assumption process and imposes obligations on the acquiring company to protect this information. There can be different types of Assignment and Assumption of Software License Agreements based on the specific circumstances or requirements. Some possible variations include: 1. Assignment due to merger or acquisition: When Cook Illinois merges with or is acquired by another company, the software license may need to be assigned to the acquiring entity. 2. Assignment due to divestment: In case Cook Illinois divests a particular business unit, it may be necessary to assign the software license to the entity buying that division. 3. Assignment due to change in ownership: If there is a change in the ownership structure of Cook Illinois, such as a change in shareholders or partners, the software license may be assigned to reflect the new ownership. In summary, the Cook Illinois Assignment and Assumption of Software License Agreement is a legal document that governs the transfer of software license rights from Cook Illinois to another entity, ensuring a smooth transition and maintaining intellectual property rights.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.