A New Mexico Settlement Agreement for Dispute Arising Out of Joint Software Development Agreement Where Developer Continues to Own and License Jointly Developed Software is a legal document that outlines the terms and conditions for settling a dispute between parties involved in a joint software development agreement. This type of agreement is specifically designed for situations where the developer retains ownership rights over the jointly developed software and grants a license to the other party. The key elements of a New Mexico Settlement Agreement for Dispute Arising Out of Joint Software Development Agreement are as follows: 1. Identification of the Parties: This section includes the names and contact information of all parties involved in the dispute, including the developer and the licensee. 2. Background Information: It provides a detailed description of the joint software development agreement, including the agreed-upon terms, obligations, and responsibilities of each party. 3. Dispute Details: This section outlines the specific issues and disagreements that led to the dispute, including any breach of contract or alleged violations. 4. Settlement Terms: Here, the agreement outlines the terms of the settlement that both parties agree upon to resolve the dispute. This may include financial compensation, modified contractual terms, or other remedies to address the grievances. 5. Ownership and Licensing Rights: This section specifies that the developer retains ownership rights over the jointly developed software and grants a license to the other party for its use, subject to certain conditions and limitations. 6. Confidentiality and Non-Disclosure: This clause ensures that all confidential information shared during the joint software development agreement remains confidential and cannot be disclosed to third parties. 7. Indemnification: This provision safeguards the developer against any claims or damages arising out of the licensee's use of the jointly developed software, ensuring that the licensee assumes responsibility for any legal consequences. 8. Governing Law and Jurisdiction: It states that the settlement agreement is governed by the laws of New Mexico, and any disputes arising out of or in connection with the agreement will be resolved within the state's jurisdiction. 9. Counterparts and Amendments: This section allows the agreement to be executed in multiple counterparts and permits amendments or modifications to be made in writing by both parties. Different types of New Mexico Settlement Agreements for Dispute Arising Out of Joint Software Development Agreement Where Developer Continues to Own and License Jointly Developed Software may include variations depending on the specific nature of the dispute. For instance, additional provisions may be added to address intellectual property rights, termination clauses, or dispute resolution mechanisms such as arbitration or mediation.