Software cross license agreement is a legal contract enacted between two entities wherein both the parties grant the rights to other party to use and develop products based on its software and technology. In other words entering into such an arrangement gives the license to one party to continue using the technology which may be patent of another party with or without paying any royalty.
A software cross license agreement in order to avoid attracting the penalties of patent infringement laws should be well researched and drafted and should contain all details regarding the technology platform for which the license is granted, the specific rights for which the license is granted, the territory and the term of the license, the royalty payments associated with the license, the terms and conditions which may lead to revoking of the license, the penalties in case of violation and right of parties to legally contest each other in case of infringement of the license.
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