FactSet License Agreement: What You Need to Know
FactSet is a leading provider of financial data and analytics software for investment professionals. Its license agreement is a legally binding contract that outlines the terms and conditions under which users can access and use its products and services. If you`re considering using FactSet`s software or have already signed up for it, it`s essential to understand what`s included in the license agreement.
Here are some of the critical points to keep in mind when reviewing the FactSet license agreement:
1. Restricted Use
The FactSet license agreement outlines the permitted use of the software. Typically, the license agreement restricts users from using the product for anything other than research and analysis related to their work in the financial industry. Users can`t sell or redistribute any data or materials to third parties, nor can they use the product for personal or commercial gain.
Users must comply with the terms and conditions of the license agreement, or they may face termination of their account. For example, if a user is found to have violated the agreement terms, FactSet may terminate the license without notice. Additionally, the license agreement may require users to remove the software from their systems at their own cost if the license is terminated.
The FactSet license agreement will typically contain a liability clause, outlining the extent to which the company will be held responsible for any losses or damages incurred by users. Some agreements may limit FactSet`s liability to the cost of the license, while others may disclaim liability altogether. As a user, it`s essential to understand your exposure to risk and what costs you will be responsible for in the event of a dispute.
4. Intellectual Property Rights
The FactSet license agreement will contain provisions related to intellectual property, such as copyrights and trademarks. Users are typically prohibited from copying or distributing any materials related to FactSet`s products or services that are not authorized for distribution or use. Additionally, users are generally not permitted to modify or reverse engineer any of the software or code provided, nor can they remove or alter any trademarks or copyright notices.
5. Updates and Maintenance
Most license agreements give FactSet the right to update or modify the software at any time. You must be aware of any updates or modifications and agree to them as part of your continued use of the product. Additionally, the license agreement may require users to pay for maintenance and support services to receive technical assistance and software updates.
In conclusion, understanding the FactSet license agreement is crucial for anyone thinking of using its products or services. Familiarizing yourself with the terms and conditions of the agreement will help you avoid any legal issues and better understand the costs and risks associated with using FactSet`s software. If you have any questions about the agreement or need further clarification, don`t hesitate to reach out to FactSet`s customer support team.