Do I need a Software Licence Agreement?

If you've built or developed a software, you can choose to license this to another party for a profit. In this case, it's wise to get the details of the arrangement in writing to avoid any losses or messy disputes.

A Software Licence Agreement can set out:

• Licence fees
• Renewal
• IP ownership
• Reverse engineering
• Confidentiality
• Liability

A key risk here is that you need to retain ownership of your IP, so having a licence agreement in place can ensure both parties are on the same page with respect to IP ownership.