Software Modification Agreement For Marketing

WHEN TO USE: This Software Modification Agreement assumes that the author of a software program (Licensor) will modify its product for a specific Licensee. The licensee in turn will own the rights to the modifications from the original program, yet the Licensor will retain copyright protection of its original program. After the modifications are accomplished, the Licensee will have the right to distribute or remarket the revised application. Through this Software Modification Agreement there are options available to the Licensee where the Licensor makes the enhancements at no fee, or on the other hand, the Licensor can charge the Licensee a fee for making the enhancements. Furthermore, the Software Modification Agreement requires the Licensor to provide maintenance services for a period of time to correct the program or the supporting documents. The Licensor confirms that it owns the software and it has the right to license it. The Licensee's key commitments are to pay the Licensor for any applicable development costs and to make any additional royalty payments on a continuing basis. The Licensee, having fulfilled the terms of the Software Modification Agreement retains the intellectual rights for the revised software program and any monies not owed to the Licensor.

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