Terms of Use
To purchase or sell a license on ILOCX, you must first read and accept these Terms of Use and the License Agreement. Accepting these terms will apply your digital signature to them.
Definitions
In these Terms of Use “we”, “us” or “our” means ILOCX. “Licensee” means a company or individual that has purchased a license - a License Buyer. “Licensor”, “Licensors” means a company or individual that has listed a license for sale using the ILOCX Framework - a License Seller.
Our Role
ILOCX is an intermediary connecting those who wish to sell licenses with those who wish to buy licenses. Our role is to maintain the ILOCX Website, present information provided to use by the Listing Company, store electronically license agreements between Licensor and Licensee and to facilitate Licensor’s issuance of licenses and compliance with the International Licensing Organisations Legal Framework.
As part of these Intermediary Services, we collect and list information from Licensor and from third parties about the Licensor. We cannot guarantee the accuracy of this information, but to the best of our ability we perform due diligence and provide sources on the claims made and projections provided without giving advice. Accordingly, we accept no responsibility or liability for the inaccuracy of such information and Licensee should do their own due diligence.
We may from time-to-time update the information we provide, when we are given new or additional information, but have no obligation to do so.
The information provided shall not in any way constitute a recommendation as to whether you should buy any product discussed. We accept no liability for any loss occasioned to any person acting or refraining from action as a result of any material provided or published.
License Agreements
When a Licensee buys a License using the ILOCX Framework they are transacting directly with the Listing Company, ILOCX does not receive or process any money on their behalf. To complete the purchase they must agree to and accept the License Agreement. The License Agreement sets out the relationship with the Licensor. The License Agreement is exclusively between a Licensor and Licensee.
Licenses issued on ILOCX are globally compliant and available to all countries except for those currently on UK, OFAC or EU sanction lists.
ILOCX does not guarantee or enforce any payments that are due from Licensor to Licensee or from Licensee to Licensor under any License Agreement. License Agreements are legally binding contracts, and the parties, namely the Licensor and the Licensee are contractually required to make payments as set out in the License Agreement.
We will not perform any management functions on your behalf in respect of any Licenses that are bought, sold or held. It is the sole decision of the Licensor whether or not to sell a license using the ILOCX Framework. It is the sole decision of the Licensee wether or not to buy or sell back a license from or to a Licensor. You should seek independent financial, legal, tax or other professional advice prior to deciding to buy using the ILOCX Framework.
Disclaimer
No information, activity or process undertaken, or outcome reached, in connection with the provision of Intermediary Services is intended to constitute or be construed as advice, recommendations or guarantee by ILOCX as to the creditworthiness of any Licensor or Licensee, the amount of Royalty payments that will be made or received, or the likelihood of payment defaults that may occur, in relation to any License.
License Agreements are exclusively between a Licensor and Licensee. We do not perform any management functions on behalf of the Licensor in respect of any Licenses that the Licensor approves and issues. It is the Licensor’s sole decision whether or not to sell to Licensee’s using ILOCX and The ILOCX Framework.
ILOCX does not hold funds from License Sales on behalf of Licensors.
ILOCX does not hold royalty or other funds on behalf of any user of our website.
ILOCX are not authorized to give investment advice. No information contained on any ILOCX Website constitutes investment advice and should not be treated as such.
Refunds
Licensors are obliged to offer Licensee’s refunds if the request is made within 24 hours of purchase. This does not apply if the contract has been actioned or qualified, and if granted, will be less payment processing fees.
To initiate a refund you must contact the Licensor directly using the contact details available on their listing page. ILOCX does not have access to Licensor’s funds. It is the sole responsibility of the Licensor to provide Licensee’s with a refund upon request.
Suspension
We may suspend or disable a Licensor or Licensee’s access to the Website at any time if, in our reasonable opinion:
they have failed to comply with these Terms; or
they have failed to comply with their Listing Agreement, License Agreement ; or their account is being misused, illegally or fraudulently used or is subject to other unauthorised use.
Any suspension will not affect license agreements in place as these are exclusively between the Licensor and the Licensee and are valid independently of ILOCX. Suspended accounts will receive PDF or physical copies of these contracts.
Jurisdiction
These Terms of Use are governed by and construed in accordance with English law. If any dispute (whether contractual or non-contractual) arises out of, or in connection with, these Terms of Use, we, the Licensee and the Licensor submit to the exclusive jurisdiction of the English courts.
