Hi Rodinhooders,
Can someone help with one of the most important contract clauses in an agreement i.e. the termination provision.
I am working on a planner website, where technology is an important aspect for the business’s good functioning. The website has different features with each feature being rolled out in phases. I have worked on an MoU with a potential technology partner. It’s completely revenue sharing model, each one bearing their own expenses.
The partner feels that if due to any reason the contract is terminated within 60 days as per the MoU, then I have to be willing to share and own the code with mutual agreement until and unless the amount is fully paid.
Please help with your suggestions and experiences in dealing with such a case.
Thank you all…