A Sample license contract is a sample or detailed example of any license contract. A license contract is a contract when one party provides the other with a certain license. In such contracts, one party which gives the license is known as ‘Licensor’ and the one who obtains the license may be known as ‘Purchaser’.
Sample License Contract Sample:
License Code: 32/p
This license contract is made and between ABC University and GT Co. where the former has granted the latter a license for using the Physics Laboratory for the purpose of distribution of useful products and apparatus but this license does not mean granting permission to permanently use any of those products.
This following are the details of the parties:
University address: 45-p, states ground, LA
Contact number: 4379473595055
Address: 89-c block, Greg towers, LA
Contact number: 4735795945406
Effective date of contract: 30th June, 2011
Termination of contract: 30th June, 2012
The monthly amount to be paid to the LICENSOR: $3000
Total amount to be paid in the year: $36000
The following are the obligations and the duties to be followed by both the parties:
- The LICENSOR must be informed of each product or apparatus which is being used or distributed
- The PURCHASER must pay the amount on time and keep in mind not to harm any product from the lab.
- PURCHASER must ensure proper usage and copyright laws while using the products.
Both the parties hereby validate the contract and accept the terms:
Phil Lawson (ABC University) Tim Howard (GT. Co)