Louisiana Technology License Agreement regarding designing, developing and marketing Internet based electronic banking applications

• Category: Corporations - Public - Licenses
• State: Multi-State
• Control #: US-EG-9291
• Format: Word; Rich Text

Description

Technology License Agreement between 724 Solutions, Inc. and Bank of America National Trust and Savings Association regarding designing, developing and marketing Internet based electronic banking applications over a variety of access platforms dated Louisiana Technology License Agreement for Designing, Developing, and Marketing Internet-Based Electronic Banking Applications In Louisiana, a Technology License Agreement is a legal contract entered into by parties involved in the design, development, and marketing of internet-based electronic banking applications. This agreement aims to establish the rights, responsibilities, and obligations of both the licensor, who owns the technology, and the licensee, who wishes to utilize the technology for their electronic banking applications. The Louisiana Technology License Agreement for designing, developing, and marketing internet-based electronic banking applications typically covers various aspects: 1. License Grant: This section outlines the specific rights granted by the licensor to the licensee. It defines the scope of the license, specifying whether it is an exclusive or non-exclusive license. The agreement will also state whether the licensee has the right to sublicense the technology to third parties. 2. License Fees and Royalties: The agreement will establish the financial terms associated with the license, including any upfront fees, ongoing royalties, or revenue-sharing arrangements. The parties involved will mutually agree upon the payment structure, timelines, and methods. 3. Intellectual Property Protection: This section emphasizes the importance of protecting the intellectual property rights of the technology. It may include provisions detailing the licensor's ownership of the technology, restrictions on reverse engineering, or unauthorized use, and the consequences of any breaches. 4. Confidentiality and Non-Disclosure: Given the sensitive nature of the technology, the agreement generally contains provisions that require both parties to maintain confidentiality regarding any proprietary or confidential information exchanged during the collaboration. 5. Support and Maintenance: This aspect addresses the licensor's commitment to providing technical support, updates, and maintenance for the licensed technology. It may define the level of support, response timeframes, and any associated fees. 6. Performance Standards: This section may outline the expected performance standards the licensee must meet when implementing the licensed technology in their electronic banking applications. It ensures the technology operates efficiently and meets the agreed-upon requirements. 7. Term and Termination: This defines the duration of the agreement, including any renewal options. It outlines the conditions under which either party can terminate the agreement, such as material breach, non-payment, or bankruptcy. Additional Types of Louisiana Technology License Agreements regarding designing, developing, and marketing Internet-based electronic banking applications may include: 1. Exclusive License Agreement: This grants the licensee the exclusive right to use the technology within a specific territory or market segment. The licensor may agree not to license the technology to any other party within the defined scope. 2. Non-Exclusive License Agreement: This grants the licensee the non-exclusive right to use the technology, allowing the licensor to enter into agreements with other parties simultaneously. 3. Joint Venture Agreement: In certain cases, the licensor and licensee may form a joint venture to collaboratively develop and market the technology. A joint venture agreement outlines the terms and conditions governing their partnership. 4. Source Code License Agreement: This type of agreement grants the licensee access to the source code of the technology, enabling them to modify and customize the software further to suit their specific requirements. 5. End-User License Agreement: This agreement is specifically designed for end-users, such as banks and financial institutions, who wish to license the technology for their internal use and not for further distribution or resale purposes. In conclusion, the Louisiana Technology License Agreement for designing, developing, and marketing Internet-based electronic banking applications establishes the framework for licensing and utilizing technology in the banking sector. Various types of agreements cater to specific circumstances, ensuring a fair and mutually beneficial collaboration between the licensor and licensee.

Louisiana Technology License Agreement for Designing, Developing, and Marketing Internet-Based Electronic Banking Applications In Louisiana, a Technology License Agreement is a legal contract entered into by parties involved in the design, development, and marketing of internet-based electronic banking applications. This agreement aims to establish the rights, responsibilities, and obligations of both the licensor, who owns the technology, and the licensee, who wishes to utilize the technology for their electronic banking applications. The Louisiana Technology License Agreement for designing, developing, and marketing internet-based electronic banking applications typically covers various aspects: 1. License Grant: This section outlines the specific rights granted by the licensor to the licensee. It defines the scope of the license, specifying whether it is an exclusive or non-exclusive license. The agreement will also state whether the licensee has the right to sublicense the technology to third parties. 2. License Fees and Royalties: The agreement will establish the financial terms associated with the license, including any upfront fees, ongoing royalties, or revenue-sharing arrangements. The parties involved will mutually agree upon the payment structure, timelines, and methods. 3. Intellectual Property Protection: This section emphasizes the importance of protecting the intellectual property rights of the technology. It may include provisions detailing the licensor's ownership of the technology, restrictions on reverse engineering, or unauthorized use, and the consequences of any breaches. 4. Confidentiality and Non-Disclosure: Given the sensitive nature of the technology, the agreement generally contains provisions that require both parties to maintain confidentiality regarding any proprietary or confidential information exchanged during the collaboration. 5. Support and Maintenance: This aspect addresses the licensor's commitment to providing technical support, updates, and maintenance for the licensed technology. It may define the level of support, response timeframes, and any associated fees. 6. Performance Standards: This section may outline the expected performance standards the licensee must meet when implementing the licensed technology in their electronic banking applications. It ensures the technology operates efficiently and meets the agreed-upon requirements. 7. Term and Termination: This defines the duration of the agreement, including any renewal options. It outlines the conditions under which either party can terminate the agreement, such as material breach, non-payment, or bankruptcy. Additional Types of Louisiana Technology License Agreements regarding designing, developing, and marketing Internet-based electronic banking applications may include: 1. Exclusive License Agreement: This grants the licensee the exclusive right to use the technology within a specific territory or market segment. The licensor may agree not to license the technology to any other party within the defined scope. 2. Non-Exclusive License Agreement: This grants the licensee the non-exclusive right to use the technology, allowing the licensor to enter into agreements with other parties simultaneously. 3. Joint Venture Agreement: In certain cases, the licensor and licensee may form a joint venture to collaboratively develop and market the technology. A joint venture agreement outlines the terms and conditions governing their partnership. 4. Source Code License Agreement: This type of agreement grants the licensee access to the source code of the technology, enabling them to modify and customize the software further to suit their specific requirements. 5. End-User License Agreement: This agreement is specifically designed for end-users, such as banks and financial institutions, who wish to license the technology for their internal use and not for further distribution or resale purposes. In conclusion, the Louisiana Technology License Agreement for designing, developing, and marketing Internet-based electronic banking applications establishes the framework for licensing and utilizing technology in the banking sector. Various types of agreements cater to specific circumstances, ensuring a fair and mutually beneficial collaboration between the licensor and licensee.