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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 118708
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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My company is licensing content to a tech firm who will incorporate

Resolved Question:

My company is licensing content to a tech firm who will incorporate it into a particular application. If that tech firm is bought by another company, how can I make sure the new owner will honor the terms of the agreement?
Submitted: 8 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 8 years ago.
In your licensing agreement you can specify that if the firm is sold the licensing fees are transferred to and the responsibility of the heirs, assigns, transferrees, successors or purchasers of the firm and any heirs, assigns, transferrees, successors or purchasers in the future.

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Customer: replied 8 years ago.
Can you tell me what section/heading of the agreement this would fall under? Term and Termination? Right now, the subheads under that section include term, temination for breach, termination for convenience, and effect of termination.
Expert:  Law Educator, Esq. replied 8 years ago.
It would fall under terms of licensing. When you grant a license you can specify the terms under which the person has the right to use the product being licensed and you can set this as one of the terms.
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