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

• Category: Corporations - Public - Licenses
• State: Multi-State
• County: Cook
• 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 Cook Illinois Technology License Agreement is a legally binding contract that extensively covers the terms and conditions for designing, developing, and marketing Internet-based electronic banking applications. This agreement is specifically tailored to govern the rights and obligations of the parties involved in the utilization of Cook Illinois Technology for electronic banking purposes. The following detailed description includes relevant keywords to elucidate different aspects of this license agreement: 1. Scope: The Cook Illinois Technology License Agreement outlines the parameters within which the licensee can utilize Cook Illinois Technology for designing, developing, and marketing Internet-based electronic banking applications. 2. Intellectual Property Rights: This agreement explicitly defines the ownership and protection of intellectual property rights concerning Cook Illinois Technology. It confers the licensee with a non-exclusive, non-transferable right to use the technology solely for electronic banking application purposes. 3. License Duration: The license agreement stipulates the duration of the license granted to the licensee, including any renewal clauses or termination conditions. 4. Usage Restrictions: The agreement specifies any restrictions related to the use of Cook Illinois Technology. This may include limitations on altering or modifying the technology, transferring or sublicensing the rights, or using the technology for purposes other than electronic banking applications. 5. Support and Maintenance: Details regarding technical support and maintenance services provided by Cook Illinois to ensure the proper functioning of the technology are outlined in the agreement. This encompasses updates, bug fixes, and any ongoing assistance required by the licensee. 6. Confidentiality: The license agreement highlights the confidential nature of proprietary information exchanged between the parties. It clearly defines the obligations of both parties to protect and not disclose any confidential information. 7. Liability and Indemnification: This section delineates the liability and indemnification provisions. It specifies limitations and disclaimers of warranties, as well as the allocation of risk between the parties involved in the license agreement. 8. Compliance with Laws and Regulations: The agreement emphasizes the importance of complying with applicable laws and regulations, including those specific to banking, data protection, and privacy. It ensures adherence to legal and regulatory obligations related to electronic banking applications. 9. Fees and Payment Terms: The license agreement specifies any fees associated with the use of Cook Illinois Technology. This includes payment terms, invoicing details, and any penalties for non-compliance. Different types of Cook Illinois Technology License Agreement regarding designing, developing, and marketing Internet-based electronic banking applications may include: 1. Basic License Agreement: A standard license agreement that encompasses the fundamental terms and conditions for the use of Cook Illinois Technology in electronic banking applications. 2. Exclusive License Agreement: This type of agreement grants the licensee the exclusive right to utilize Cook Illinois Technology for electronic banking applications, excluding other potential licensees. 3. Multi-Year License Agreement: A license agreement with an extended duration, typically spanning multiple years, to provide long-term access to Cook Illinois Technology. 4. Custom Development Agreement: This type of agreement involves customized development of Cook Illinois Technology according to the specific requirements and preferences of the licensee, tailoring it to their unique electronic banking applications. It is important to consult an attorney or legal professional for a comprehensive understanding of the specific terms and conditions included in Cook Illinois Technology License Agreements regarding designing, developing, and marketing Internet-based electronic banking applications.

Cook Illinois Technology License Agreement is a legally binding contract that extensively covers the terms and conditions for designing, developing, and marketing Internet-based electronic banking applications. This agreement is specifically tailored to govern the rights and obligations of the parties involved in the utilization of Cook Illinois Technology for electronic banking purposes. The following detailed description includes relevant keywords to elucidate different aspects of this license agreement: 1. Scope: The Cook Illinois Technology License Agreement outlines the parameters within which the licensee can utilize Cook Illinois Technology for designing, developing, and marketing Internet-based electronic banking applications. 2. Intellectual Property Rights: This agreement explicitly defines the ownership and protection of intellectual property rights concerning Cook Illinois Technology. It confers the licensee with a non-exclusive, non-transferable right to use the technology solely for electronic banking application purposes. 3. License Duration: The license agreement stipulates the duration of the license granted to the licensee, including any renewal clauses or termination conditions. 4. Usage Restrictions: The agreement specifies any restrictions related to the use of Cook Illinois Technology. This may include limitations on altering or modifying the technology, transferring or sublicensing the rights, or using the technology for purposes other than electronic banking applications. 5. Support and Maintenance: Details regarding technical support and maintenance services provided by Cook Illinois to ensure the proper functioning of the technology are outlined in the agreement. This encompasses updates, bug fixes, and any ongoing assistance required by the licensee. 6. Confidentiality: The license agreement highlights the confidential nature of proprietary information exchanged between the parties. It clearly defines the obligations of both parties to protect and not disclose any confidential information. 7. Liability and Indemnification: This section delineates the liability and indemnification provisions. It specifies limitations and disclaimers of warranties, as well as the allocation of risk between the parties involved in the license agreement. 8. Compliance with Laws and Regulations: The agreement emphasizes the importance of complying with applicable laws and regulations, including those specific to banking, data protection, and privacy. It ensures adherence to legal and regulatory obligations related to electronic banking applications. 9. Fees and Payment Terms: The license agreement specifies any fees associated with the use of Cook Illinois Technology. This includes payment terms, invoicing details, and any penalties for non-compliance. Different types of Cook Illinois Technology License Agreement regarding designing, developing, and marketing Internet-based electronic banking applications may include: 1. Basic License Agreement: A standard license agreement that encompasses the fundamental terms and conditions for the use of Cook Illinois Technology in electronic banking applications. 2. Exclusive License Agreement: This type of agreement grants the licensee the exclusive right to utilize Cook Illinois Technology for electronic banking applications, excluding other potential licensees. 3. Multi-Year License Agreement: A license agreement with an extended duration, typically spanning multiple years, to provide long-term access to Cook Illinois Technology. 4. Custom Development Agreement: This type of agreement involves customized development of Cook Illinois Technology according to the specific requirements and preferences of the licensee, tailoring it to their unique electronic banking applications. It is important to consult an attorney or legal professional for a comprehensive understanding of the specific terms and conditions included in Cook Illinois Technology License Agreements regarding designing, developing, and marketing Internet-based electronic banking applications.