What is a Software Rights Assignment?
Use this if you are selling the source code of software you have built or otherwise own, or if you’re transferring software to another company in your group as part of a restructuring. If you’re licensing the software use the Software License Agreement instead.
Basically, a Software Rights Assignment is an agreement to transfer the intellectual property rights of software from a software developer to another company. Essentially, the company being assigned the property rights will have full ownership of the source code.
Conversely, if you are licensing the software, you’ll want to use a Software License Agreement instead.
What is in a Software Rights Assignment Agreement?
In essence, a software rights assignment assigns all intellectual property of a developed software. Usually, this includes source code, documentation, manuals, training materials, testing scripts, etc. Typically, the agreement specifies the name of the software and the version number. Additionally, it may specify terms and conditions of use after the transfer of ownership.
When Should You Use a Software Rights Assignment?
Basically, you’ll want to use this template when you are transferring or selling intellectual property to another company. However, if you are looking to license your software, you should use a Software License Agreement instead.
In summary, easy-to-use templates for your software company can enable your team to grow. And, without increasing your administrative burden. Thus, an agreement generated from Zegal allows you to take control.
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Along with this document, make sure you see these other templates in our library:
- Shareholder Agreement
- Option Agreement
- Employee Option Repurchase Agreement
- Share Appreciation Rights Plan
- Share Option Plan
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