The Software Source Code Purchase Agreement is essential when a company wishes to acquire complete ownership and control of software source code, rather than just licensing rights. This agreement, governed by Singapore law, is particularly relevant for business acquisitions, technology transfers, or when companies need to maintain and modify software independently. The document includes detailed provisions for IP transfer, warranties, technical documentation, acceptance testing, and ongoing support arrangements. It ensures compliance with Singapore's Copyright Act 2021, PDPA, and other relevant legislation while protecting both parties' interests in the transaction.
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1. Parties: Identification of buyer and seller with full legal details
2. Background: Context of the transaction and brief description of the software
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase: Core transaction terms including price and payment
5. Delivery and Acceptance: Terms for code delivery and acceptance testing
6. IP Rights Transfer: Terms of intellectual property transfer
7. Warranties: Seller's warranties regarding the source code
8. Confidentiality: Protection of confidential information
9. Governing Law: Specification of Singapore law as governing law
1. Escrow Arrangements: Source code escrow terms for ensuring ongoing access protection
2. Training: Terms for knowledge transfer and technical training services
3. Maintenance: Ongoing maintenance and support services terms
4. Export Controls: Export compliance provisions for international transfers
1. Schedule 1 - Software Description: Detailed technical specification of the source code
2. Schedule 2 - Acceptance Tests: Specific acceptance testing procedures and criteria
3. Schedule 3 - Documentation: List of required technical documentation
4. Schedule 4 - Price and Payment Schedule: Detailed payment terms and milestones
5. Schedule 5 - Third-Party Components: List of third-party software components and licenses
Relevant legal definitions
Agreement
Acceptance Criteria
Acceptance Tests
Background IP
Business Day
Confidential Information
Delivery Date
Documentation
Effective Date
Escrow Agent
Intellectual Property Rights
License
Modifications
Object Code
Purchase Price
Source Code
Source Code Materials
Specifications
Software
Technical Documentation
Term
Third Party Components
Third Party Licenses
Updates
Warranties
Acceptance Criteria
Acceptance Tests
Background IP
Business Day
Confidential Information
Delivery Date
Documentation
Effective Date
Escrow Agent
Intellectual Property Rights
License
Modifications
Object Code
Purchase Price
Source Code
Source Code Materials
Specifications
Software
Technical Documentation
Term
Third Party Components
Third Party Licenses
Updates
Warranties
Clauses
Sale and Purchase
Intellectual Property Rights
Delivery and Acceptance
Payment Terms
Warranties and Representations
Confidentiality
Technical Requirements
Documentation Requirements
Knowledge Transfer
Acceptance Testing
Source Code Escrow
Maintenance and Support
Data Protection
License Restrictions
Third Party Components
Technical Specifications
Export Controls
Non-Competition
Indemnification
Force Majeure
Termination
Assignment
Dispute Resolution
Governing Law
Entire Agreement
Intellectual Property Rights
Delivery and Acceptance
Payment Terms
Warranties and Representations
Confidentiality
Technical Requirements
Documentation Requirements
Knowledge Transfer
Acceptance Testing
Source Code Escrow
Maintenance and Support
Data Protection
License Restrictions
Third Party Components
Technical Specifications
Export Controls
Non-Competition
Indemnification
Force Majeure
Termination
Assignment
Dispute Resolution
Governing Law
Entire Agreement
Relevant Industries
Relevant Teams
Relevant Roles
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