Selling your custom software

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Technology Transfer AgreementAny software created outrightly bears copyright protection to the creator or the person who commissioned the work, with copyright registration or without registration

So what if you don’t want to grow the business?

Sell or transfer the software.

To do so you will need a Technology Transfer Agreement.

A technology transfer agreement is made between the creator of the software and the purchaser of the software. The creator transfers  the technology by assigning, selling, or conveying, the software to the purchaser.

A Technology Transfer Agreement can also be used between a Founder and his/her startup.

The agreement will list the IP to be transferred to the startup, along with the shareholder representing he or she is the sole owner of the IP.

But in this situation the agreement is best paired paired with a stock purchase agreement, as the IP transfer to the startup can be consideration (full or partial) for the shares purchased by Founder.

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