Photo by Rodolfo Clix from Pexels.

  • Does the relationship end after the purchase date, or should renewal terms be considered? Are ongoing maintenance and bug fixes required?
  • What deal-breakers need to be clearly addressed at the beginning?
  • Is development/support handled in-house or through a foreign entity outside of the United States?
  • What protocols are in place to ensure data security? What is the plan should a breach occur?
  • Is there a limitation on who may access the technology, such as limiting access to only your employees, and blocking use by your contractors or vendors?
  • Is there an affiliate organization that will be allowed to use the technology?
  • Who owns the rights to development made by the buyer?
  • Are there business hour restrictions for when software must be available to the buyer?
  • Is the vendor even required to provide software updates and bug fixes?
  • If the technology breaks, who is required to fix it, what notice must be provided, and how quickly must the issue be resolved?
  • What is the remedy if the vendor does not meet its service level agreement obligations?
  • Should the source code be held in escrow so that the buyer can access it if the vendor does not fulfil its obligations or goes out of business?

About RVL®

Rockridge Venture Law® is a certified B Corp law firm embracing the mantra of technology lawyers for good. Rockridge® services include corporate, intellectual property, litigation, M&A, privacy, technology, and venture capital law. Rockridge has been recognized as a B Corp Best for the World and Real Leaders Top 150 Impact Company, and has been featured by Conscious Company Magazine, Forbes, and other top media focused on industry leaders in impact and innovation.

The Rockridge team has worked with Grammy winners, Nobel Prize winners, and world champion athletes to create and monetize distinctive intellectual property assets. Rockridge clients include founders, investors, and multinationals scaling disruptive technologies and iconic brands. Rockridge is headquartered in Tennessee, with satellite offices in Durham, New Haven, and New York.

We’re Building Today’s Company for Tomorrow’s Economy® by leading clients through the dizzying array of information controls, by helping them to develop and monetize proprietary assets, and by enabling their impactful products, programs, and principles.

See case studies on how we’ve helped transformative companies at Rockridge Case Studies.

Please note that this guide is for informational and advertisement purposes only. The use of this guide does not constitute an attorney client relationship. As laws frequently change and may be interpreted differently, RVL® does not in any way guarantee the accuracy or applicability of this information.

Lauren McClanahan

Author Lauren McClanahan

Lauren McClanahan is a data privacy and brand law attorney at Rockridge Venture Law®. Equally adept at creative campaigns as well as technology transactions, Lauren leads clients through copyright, privacy, regulatory, and trademark considerations.

More posts by Lauren McClanahan

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