Document background
The Product License Agreement serves as a crucial legal instrument in Indian business transactions, establishing the framework for licensing products while ensuring compliance with Indian contract law, intellectual property legislation, and relevant industry regulations. This document is essential when a company wishes to grant another party the right to use its product while retaining ownership of the intellectual property. It covers critical aspects such as scope of license, usage restrictions, fees, maintenance, support, and termination conditions. The agreement is particularly relevant for software, technology products, and other intellectual property-based offerings, providing protection for both licensors and licensees while establishing clear operational guidelines. Its structure accommodates both B2B and B2C scenarios, with flexibility to address various licensing models including perpetual, subscription-based, or term-limited arrangements.
