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Sale of Technology Agreement


Overview
- This Sale of Technology Agreement is used when the developer or owner of a software program sells the ownership interest to someone else.
- It is customary for an individual or company that wants to use a software program to take a license of the software from the owner.  That license normally provides only a right to use the software; it does not provide ownership.  Most users are not granted the right to redistribute the software, make copies or modify it.
- Like any other valuable property right, the software may instead be sold outright.  The Sale of Technology Agreement negotiates a complete transfer of ownership and title in the software to the buyer.  
- Upon the payment of the purchase price and delivery of the software, the buyer is the owner of the software.  The buyer then has the exclusive right to duplicate the software, grant licenses, register the copyright (or transfer it, if already registered), prepare derivative works, and do anything else that the original developer might have done.

When You Need It
- To transfer ownership of a software program from the owner to a buyer for a sum of money.  
- After completing this transaction, the party selling the program retains no interest and has no rights in the software.


Getting Started

You will need:
- Name and address of the person buying the software.
- Name and address of the person selling the software.
- Description of the software being sold.
- Details of the agreement, including information on any other licenses previously granted and the purchase price.

When to Review and Revise 
- To correct the information contained in the agreement.
- To draft another Sale of Technology Agreement.