What is meant by License agreements?
The term "license agreements" refers to legal agreements made between the licensor and the licensee. These agreements specify the terms under which the product can be used, including usage rights, restrictions, duration, and payment terms.
Typical software functions in the area of "license agreements":
- Contract Creation: Automated generation and customization of license agreements based on predefined templates and user requirements.
- Contract Management: Management of all active and expired license agreements, including renewals, terminations, and amendments.
- Rights and Roles Management: Assignment and management of access rights based on the terms of the license agreement.
- Contract Monitoring: Monitoring compliance with contract terms, including license usage and payments.
- Reporting: Generating reports on license usage, contract durations, and compliance status.
- Notifications: Automated notifications about upcoming contract expirations, renewals, or violations of contract terms.
- Integration with Billing Systems: Linking license agreements with billing systems for automatic processing of payments and invoicing.