End-User License Agreements, EULA defines your right over your content. Your idea, your life’s work, the creation of software everything becomes your Intellectual Property.
When someone does not need to use the content in whole or in specific operations they are bound by EULA. End-User License Agreements works both ways for the user as well as the owner of the content.
EULA can specify the extent to which the IP rights are granted to other users in terms of stipulations of license.
The license agreements according to their varying user terms and conditions can be classified into:
- Sub- licensable
The license that is granted will be delivered as:
- Paid-up License
- Single Named User License
- Network License
- Subscription License
Licenses give the owner and the third party the viable flexibility to work with terms of the content and the extent it can be made use of. Typically, the license period ends, when the third party closes their account that was created in the first place to enable the use of the intellectual data.
A perfect EULA decreases your liabilities and doubles your returns.
When it comes to software and games, the industry is growing by phantom speeds each day. The technology and the knowledge keeps getting more amazed and it becomes even more important how the intellectual property is to patented for developer creation security and licensed for commercial use being made beneficial for both developer and user without infringing on each other’s limit of usage.
EULA gives confidence, provides terms and conditions to adhere to, regulation and compliance clearer and thus improving the transparency for both the buyer and seller of Intellectual Property oriented data and service.
EULA in Singapore also adheres to the Personal Data Protection Act(PDPA)which safeguards personal data of the people and ways to handle them legally correct.