Issue link: http://read.uberflip.com/i/8885
• Develop policies for obtaining and installing shareware and freeware. Who is permitted to obtain and install the software? Are click-through license agreements being appropriately reviewed? • Include contract deadlines, expirations, renewals, etc. in your firm’s central calendar database, and make sure the appropriate personnel receive the appropriate reports and reminders. • Store all firm agreements in a central location that is accessible to the appropriate management personnel. Some firms keep a paper file and also scan electronic copies for storage in the document management system. • If you keep budgeting spreadsheets or the like, record there notes about price increases permitted (or not) by the agreement. • If a software maintenance or subscription agreement permits price increases or doesn’t prohibit them, don’t hesitate to question them anyway. We recommend not accepting the answer that “the price increased because we released a great new product.” You purchased maintenance or paid subscription-level pricing in order to have rights to great new products. • When you receive invoices, renewal notices, notice of price increases, or other communication from the vendor related to the agreement, check the agreement to make sure you and the vendor are in compliance. www.iltanet.org Best Practices in Licensing Agreements 19 MERGERS AND ACQUISITIONS: REQUIREMENTS FOR SOFTWARE LICENSE TRANSFER • Keep a list of all software that the firm is currently using • Determine what software will be transferred to the new firm • Gather proof of ownership documentation (see above) • Verify through the license agreement if the license(s) can be transferred • Once verified, contact vendor informing them of the merger/acquisition IN CLOSING We hope the information provided here will help ILTA members and vendors more easily navigate the process of negotiating and managing software-related agreements. If you have additional advice about best practices that have worked effectively for you, please contact the authors so we may consider updating this publication. ILTA