BUSINESS POLICY FOR IN-HOUSE SOFTWARE DEVELOPMENT & COMMERCIALIZATION
PRABUTECH INNOVATIONS
1. INTRODUCTION
This Business Policy (“Policy”) outlines the principles and guidelines governing the development, ownership, commercialization, and protection of in-house software by PRABUTECH INNOVATIONS (“Company”). The purpose of this Policy is to ensure that all proprietary software created, developed, or modified by the Company remains the exclusive property of the Company and is commercialized in a manner that maximizes profitability while ensuring compliance with applicable laws.
2. OWNERSHIP OF INTELLECTUAL PROPERTY
2.1 All software developed, modified, or customized by employees, contractors, or affiliates of the Company shall remain the sole intellectual property of PRABUTECH INNOVATIONS.
2.2 Any software developed during the course of employment or contract, whether using Company resources or on Company premises, is considered a “Work for Hire” under applicable intellectual property laws.
2.3 Any third-party contribution to software development shall be subject to a separate written agreement transferring all rights to the Company.
2.4 Employees and contractors waive all claims to royalties, residuals, or compensation beyond their agreed salaries or contractual payments.
3. CONFIDENTIALITY & NON-COMPETE AGREEMENT
3.1 Employees, contractors, and affiliates involved in software development must sign a Non-Disclosure Agreement (NDA) and a Non-Compete Agreement (NCA) before beginning work on any project.
3.2 Any unauthorized disclosure, use, or reproduction of Company-owned software or technology, whether intentional or unintentional, shall result in legal action.
3.3 Employees and contractors are prohibited from engaging in any competing business that involves the Company’s proprietary software or related technologies for a period of three (3) years post-employment or engagement.
4. COMMERCIALIZATION & LICENSING
4.1 The Company retains full rights to determine pricing, licensing models, and distribution channels for its software.
4.2 No employee, contractor, or third party shall have the right to sell, distribute, or license Company-developed software without explicit written authorization from the Company’s Proprietor.
4.3 The Company may enter into licensing agreements with third parties, provided such agreements do not transfer ownership or lead to the loss of proprietary rights.
4.4 Any revenue generated from software sales or licensing shall be the exclusive property of the Company.
5. SOFTWARE SECURITY & COMPLIANCE
5.1 All in-house software shall comply with industry best practices and applicable data protection regulations, including but not limited to the Information Technology Act, 2000 (India), GDPR (if applicable), and other cybersecurity standards.
5.2 The Company shall implement strict security measures to protect its software from unauthorized access, piracy, or cyber threats.
5.3 Regular audits shall be conducted to ensure compliance with security policies and legal standards.
6. THIRD-PARTY INTEGRATION & OPEN-SOURCE USAGE
6.1 Any third-party software integrated into in-house applications must have proper licensing and approvals to avoid legal disputes.
6.2 Open-source components may only be used if they comply with licensing terms that do not compromise the proprietary nature of the Company’s software.
6.3 The Company reserves the right to remove, replace, or modify any third-party components that may pose legal or security risks.
7. TERMINATION & BREACH OF POLICY
7.1 Any violation of this Policy by employees, contractors, or affiliates may result in immediate termination of employment or contractual agreement.
7.2 Legal action, including claims for damages and injunctive relief, may be pursued against individuals or entities that infringe on the Company’s intellectual property rights.
7.3 Disputes arising under this Policy shall be subject to arbitration under the Arbitration and Conciliation Act, 1996 (India), with the place of arbitration being Bengaluru, Karnataka.
8. AMENDMENTS & GOVERNING LAW
8.1 The Company reserves the right to amend this Policy at any time. Any modifications shall be communicated to all relevant stakeholders in writing.
8.2 This Policy shall be governed by and construed in accordance with the laws of India.
9. CANCELLATION & REFUND POLICY
9.1 No Cancellation Policy: All purchases, subscriptions, and licensing agreements for software and services offered by PRABUTECH INNOVATIONS are final and non-cancelable. Once a transaction is processed, the customer is not entitled to request a cancellation or refund.
9.2 Non-Refundable Transactions: The Company does not provide refunds for any software, licensing fees, or services under any circumstances, including but not limited to customer dissatisfaction, compatibility issues, or change of requirements.
9.3 Exceptional Cases: Refunds shall only be considered under the following conditions:
- If a duplicate payment is made due to a technical error, the Company may process a refund upon verification.
- If a legal or regulatory requirement mandates a refund.
9.4 Dispute Resolution: Any disputes regarding payments, cancellations, or refunds must be submitted in writing to PRABUTECH INNOVATIONS within 7 days of the transaction date. The Company reserves the right to make the final decision in such cases.
9.5 Chargeback Policy: Any unauthorized chargebacks or payment disputes initiated by customers will be contested with legal action if necessary. The Company reserves the right to suspend services to customers who initiate unwarranted chargebacks.
10. ACCEPTANCE & ACKNOWLEDGEMENT
By engaging in software development for PRABUTECH INNOVATIONS, all employees, contractors, and stakeholders acknowledge and accept the terms of this Policy. Non-compliance with these terms shall be subject to legal consequences.