Termination Of License

Termination Of License Template for Denmark

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Document background

The Termination of License agreement is a crucial document used when parties wish to formally end an existing licensing arrangement under Danish law. It is particularly relevant when companies need to discontinue their rights to use intellectual property, software, patents, or other licensed materials. This document becomes necessary in various situations, such as when the original license term is ending prematurely by mutual agreement, when parties are restructuring their business relationships, or when moving to different technological solutions. The agreement must comply with Danish contract law and relevant EU regulations, making it essential for businesses operating in or with Danish entities. The Termination of License agreement typically includes detailed provisions for handling the wind-down process, addressing financial settlements, managing the return or destruction of licensed materials, and establishing ongoing obligations such as confidentiality and data protection.

Suggested Sections

1. Parties: Identification of the licensor and licensee, including full legal names, registration numbers, and addresses

2. Background: Reference to the original license agreement, its date, and brief context for the termination

3. Definitions: Key terms used in the agreement, including references to defined terms from the original license agreement

4. Termination: Clear statement of termination, effective date, and mutual agreement to terminate

5. Rights and Obligations Until Termination Date: Continuing obligations and rights of both parties until the effective termination date

6. Post-Termination Obligations: Obligations of both parties following termination, including cessation of use of licensed materials

7. Return or Destruction of Materials: Requirements for handling licensed materials, documentation, and other relevant items

8. Financial Settlement: Settlement of any outstanding payments, refunds, or financial obligations

9. Confidentiality: Ongoing confidentiality obligations that survive termination

10. Surviving Provisions: Identification of provisions from the original agreement that will survive termination

11. Governing Law and Jurisdiction: Confirmation of Danish law as governing law and jurisdiction for disputes

12. Signatures: Execution blocks for authorized representatives of both parties

Optional Sections

1. Mutual Release: Include when parties wish to release each other from claims related to the license agreement

2. Transition Assistance: Include when one party requires support in transitioning away from the licensed materials

3. Public Announcements: Include when the termination may require public disclosure or coordinated communications

4. Non-Competition: Include when parties wish to establish post-termination competitive restrictions

5. Assignment of Developments: Include when there are developments or modifications to the licensed materials that need to be addressed

6. Data Protection: Include when the license involved processing of personal data requiring specific termination procedures

7. Insurance: Include when ongoing insurance obligations need to be addressed

8. Exit Interview: Include when knowledge transfer or final status review is required

Suggested Schedules

1. Schedule 1 - Original License Agreement: Copy or reference to the original license agreement being terminated

2. Schedule 2 - Licensed Materials: Comprehensive list of materials covered by the termination

3. Schedule 3 - Financial Settlement Statement: Detailed breakdown of any financial settlements, including calculations

4. Schedule 4 - Termination Timeline: Detailed timeline for implementing the termination and related obligations

5. Schedule 5 - Material Return/Destruction Certificate: Template certificate for confirming return or destruction of materials

6. Appendix A - Transition Plan: Detailed plan for transitioning away from the licensed materials if required

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