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The energy industry is constantly looking to increase productivity and efficiency through innovative software solutions. There are some excellent solutions available, but negotiating the best licensing deal can be complicated, requiring organisation, planning, communication, and flexibility. Here are our top tips to guide you through software licence negotiations:

1) Ensure you understand the critical licence terms and the specific needs of the business and end-users.

2) Let the business’ people get involved – this involves everyone, don’t just leave it for the technical department.

3) Identify people who will serve as the point of contact and liaison for the supplier.

4) Try to control the negotiation, but with the understanding of each other’s negotiating position – successful preparation is key to maintaining control at this point.

5) Create and regularly update a chart or matrix of key provisions – clean, contemporary data will ensure relevance.

6) Consider and plan for potential future expansion and possible worst case scenarios – knowing how business will change and how to adapt for any eventuality.

7) Conduct appropriate due diligence regarding relevant intellectual property – don’t just accept that the vendor/supplier is entitled to supply. Check them out and do your homework.

8) Don’t forget taxes – often overlooked, but never forgotten!