A license contract is a contract established between the data provider and the acquirer. The contract determines the acquirer’s rights to use the data.
Is the contract legally valid?
Yes. License contracts are written by international lawyers specializing in data rights and intellectual property. The contract defines the rights and obligations for both the acquirer and the provider. In case of dispute regarding the use of data, the license contract enables both parties to assert their rights.
Is a license contract necessary?
Yes, when you propose an offer on the platform, you are obligated to define the parameters of your license contract. This document is accessible to both parties during the transaction.
Can the contract be modified?
Yes, the provider can modify his license contract, as well as create as many different license contracts for each offering as desired. If one or more transactions are in progress or completed for the offer in question, those transactions are not affected by license contract changes.