For example, a concession clause may be as simple as “Licensor hereby grants Licensee a license to use the Software in the Territory for the term of this Agreement.” It may be necessary to use the definition clause to find out the meaning of capitalized terms. A skeleton form is a form used when filing for bankruptcy for a debtor to initiate bankruptcy proceedings, also known as voluntary application. This is an abbreviated application that can be completed within a certain period of time. Each license agreement must include a frame – a skeleton – that supports other clauses or systems of clauses in the license agreement. Sometimes these skeletal elements are scattered throughout the agreement and can be difficult to find due to the cumbersome wording. The concession clause is the most important clause in any license agreement. It determines “who gets what.” The definition clause is the dictionary of the agreement. The parties may define terms such as “software”, “use” and “license fee” to clarify the rights and obligations of the contract. As a general rule, the consideration paid by the licensee to the licensor is a form of royalty payment. Sometimes the Licensee grants the Licensor ownership of the improvements or a license to use the Licensee`s technology. The voluntary application also provides the insolvency court with the basic information necessary for commencement of proceedings. Although some of the requested information is repeated in more detail in the lists and statements that must also be submitted, the court immediately needs some data to make a rough estimate of the resources needed to process the case, to monitor multiple and repeated submissions, to assign cases to judges, and to provide certain statistical information that the court is legally authorized to compile.
committed. Although obvious, the agreement should be concluded between the party that has the right to grant the licence and the party that will exercise the licence.