The Stalirov&Co team developed a White Label license for an Italian IT company
About company and product
The Italian company Oxygen SRL has developed the Toprent.app platform for businesses that provide vehicle rental services. The product ensures seamless order processing, real-time fleet availability tracking, and automated maintenance scheduling.
Oxygen SRL wants to transfer the rights for further development and promotion of Toprent.app to one of the developers in order to localize the product and expand into new markets.
🔸Develop a license agreement under which Oxygen SRL will transfer Toprent.app to the developer (licensee) and receive royalties.
Realization
The Stalirov&Co team defined the type of license
Oxygen SRL grants the licensee an exclusive, irrevocable, and perpetual right to use Toprent.app.
The exclusive right to use the product allows the licensee to:
🔸Modify, improve, alter, transfer, and/or sublicense Toprent.app;
🔸Use the software in its operations;
🔸Receive payments from sublicensees for granting access to the software.
The licensee pays royalties to Oxygen SRL based on franchise fees as compensation for being granted the exclusive right to use the software.
Royalty payment terms:
🔸10% of revenue from subscriptions (sales of access to the SaaS platform);
🔸10% of profit from the platform’s commission on financial transactions;
🔸10% of profit from marketplace transactions.
We set the royalty payment terms
Our team protected Oxygen SRL’s intellectual property rights
All intellectual property rights to Toprent.app, including design elements, text, graphics, source code, source code prototypes, marketing strategies for software implementation, illustrations, and other objects, as well as components and their elements, and related information, belong exclusively to Oxygen SRL.
The lawyers set the ownership of intellectual property rights to the modifications of Toprent.app
The intellectual property rights to modifications and improvements made by the licensee based on the software belong to the licensee. The licensee grants Oxygen SRL the right to use these modifications and improvements.
We prohibited the disclosure of confidential information
The parties agree not to disclose confidential information and not to use it except for the purpose of fulfilling their obligations under the contract. The party receiving the confidential information agrees to take measures to protect it no less than the measures it takes to protect its own confidential information.
The lawyers outlined non-compete rules
The licensee agrees not to establish, promote, or in any way participate in the creation of a company or business that will conduct similar or competing business to Oxygen SRL's business during the term of the agreement and for 2 years after its termination.
In the event of a breach of confidentiality or the non-compete provisions, the guilty party agrees to pay a penalty equal to the annual royalty amount and to compensate the affected party for all damages or lost profits.
We notified the parties about the liability for breaching the confidentiality and non-compete provisions
We defined the rules for terminating the license agreement
The agreement may be terminated by one party with a written notice 120 calendar days prior to the termination date, or by mutual agreement of the parties through the signing of an additional agreement.
