Draft Intellectual Property License Agreement in Alabama for Business
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Intellectual Property License Agreement
Alabama
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Intellectual Property License Agreement
California
Can I terminate an Intellectual Property License Agreement if the licensee is not fulfilling their obligations?
I am a software developer who entered into an Intellectual Property License Agreement with a company to allow them to use my software in their products. However, the licensee has consistently failed to meet their obligations specified in the agreement, such as providing regular reports and paying the agreed-upon royalties. I am concerned about the potential damage to my reputation and the financial implications of their non-compliance. Can I terminate the agreement and revoke their license if they continue to neglect their obligations?
Dolan W.
Hello! My name is Dolan and I'm happy to answer this question and I'm sorry to hear about your situation. The short answer to your question is that it depends very heavily on what's in the agreement. A well-drafted agreement would have information about what a party can do if the other party breaches the agreement. Here, you said they weren't providing regular reports or paying the royalties, which is a breach, but it does not automatically mean you have a right to terminate the agreement. What you can do for sure is threaten to sue. The reason is that this is a breach of contract. A breach of contract simply means that one party was obligated to perform and they have either not performed or have said that they will not perform. (Restatement (Second) of Contracts.) This applies regardless of whether the agreement was written or done orally. Typically, the aggrieved party is entitled to be returned to the same position they were in before the breach. What you could do in the interim is suspend any licensing of course; however, the more immediate option is to send a demand that they perform their obligations. Let us know if you have any other questions!