1. What is a Drone License Agreement?
Drone License Agreement is made between the developer company and the customer who will use, import, sell and offer to sell the developed product with inbuilt Licensed Intellectual Property. This license agreement clearly states the rights and obligations of the developer and the seller with regard to the usage of the product. The license agreement also mentions the payment terms and software testing process for the customers. The agreement lays down all the policies relating to modifications that can or cannot be made by the customers and policy for acceptance of orders too.
2. Why is it important?
a. It helps the parties to the agreement to understand the rights and obligations clearly.
b. The licensing agreements state the process of sublicensing as well to clarify the scope of sub-licensing.
c. Licensed Intellectual property may be subject to updates and modifications due to changes in technology and this agreement, therefore, shall discuss the scope of modifications and testing which can be done.
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