An unlimited license contract is a contract which is made and signed between two parties where one party gets an unlimited usage of a product produced by the other party. Such contracts are legal in nature and violation of their terms and conditions can lead to legal implications.
Sample unlimited license contract
This unlimited license contract has been made as on 29th July 2011
This contract has been by and between two parties whose details are given as follows:
Name: Mr. Tim Brown
Address: D-8, first floor, George building, LA
Name: Mr. Paul White
Address: SA-90, river street end, CA
The details of the product whose unlimited usage is being granted are given as follows:
Name: Dellite product technology and its documentation
Period of use: unlimited
Total cost of product: $50000
The amount must be paid as a wholesome amount one week after effective date of contract.
The following are the terms and conditions on which both the parties mutually agree upon:
This contract shall remain into effect for 12 months after which it shall be renewed every year.
- The licensee agrees to keep all the information of the product technology to himself and not leak it to any other or third party.
- The licensor agrees to grant the license of the product technology to the licensee for an unlimited period of time.
- The licensor agrees to hand over all the papers of the product technology on receiving the entire payment.
Signatures of the parties: