Options Media Group Holdings, Inc. (OPMG)

[WickedCamaroSS]

Wow, I really did not see this news coming. I guess it can still be a good thing depending on the terms of the agreement. If the agreement was that we get a percentage of the proceeds everytime illume sells their Izup software, and we don't have to hand over 40% of the company, sounds like a WIN WIN. But again this is all just speculation until they formally disclose the contents of the agreement.

But I would find it very hard to believe that phoneguard would not get some sort of compensation for having Izup on their website and offering it to their clients. I highly doubt we would promote a competitors app for free.


licensing agreement

Definition

Written contract under which the owner of a copyright, know how, patent, servicemark, trademark, or other intellectual property, allows a licensee to use, make, or sell copies of the original. Such agreements usually limit the scope or field of the licensee, and specify whether the license is exclusive or non-exclusive, and whether the licensee will pay royalties or some other consideration in exchange. While licensing agreements are mainly used in commercialization of a technology, they are also used by franchisers to promote sales of goods and services.