1. Subject to the terms of this Agreement, Liv-ex grants to the Licensee a non-exclusive, non-transferable, revocable licence to use the Licensed Property for the purpose of carrying out the Licensed Activities.
2. All rights not expressly granted to the Licensee pursuant to this Agreement are reserved to Liv-ex.
3. The Licensee:
   1. shall not do anything or omit to do anything, which may diminish the rights of Liv-ex in the Licensed Property or which may bring the Licensed Property into disrepute;
   2. shall not sell, or otherwise directly profit from, the distribution of the Licensed property.
   3. shall not use the Licensed Property to create another product intended to compete with the Licensed Property;
   4. shall comply with any directions of Liv-ex in relation to the Licensee’s use of the Licensed Property pursuant to this Agreement. 

2. LIMITATION OF LIABILITY

1. The Licensed Property is supplied by Liv-ex on an “as is” and “as available” basis. Liv-ex shall not be liable to the Licensee nor to any third party for any inaccuracies, errors or omissions contained in the Licensed Property for any loss or damage arising in any way out of this Agreement, whether direct, indirect or consequential and whether suffered by the Licensee or by any other person and irrespective of whether or not the Licensee or such other third party has relied on any data from the Licensed Property. Liv-ex shall in no circumstances be liable to the Licensee for any loss of profits, loss of business or depletion of goodwill.

3. INTELLECTUAL PROPERTY

1. The Licensed Property, the L-Win brand, the Liv-ex brands, the Liv-ex web-site and all of its content are the valuable intellectual property of Liv-ex. The Licensee acknowledges that as between Liv-ex and Licensee all Intellectual Property Rights (as defined below) in the Licensed Property belong and shall continue to belong to Liv-ex, and the Licensee shall have no rights in or to the Licensed Property other than the right to use it in accordance with the terms of this Agreement. The Licensee agrees that all goodwill which arises from its use of the Licensed Property shall belong and accrue automatically to Liv-ex. For the purposes of this Agreement “Intellectual Property Rights” means patents, rights in inventions, copyrights, design rights, trade marks, service marks, rights to restrain unfair competition, trade secrets, know-how, database rights and other rights in the nature of intellectual property rights (whether registered or unregistered) and all applications for the same, anywhere in the world.

4. TERMINATION

1. Liv-ex may terminate this agreement by giving the other party no less than 30 days notice of termination. This notice will be either be in writing directly to the other party, or as a notice posted on the Liv-ex website.
2. Upon termination for any reason all rights granted to the Licensee under this Agreement shall cease and the Licensee shall:
   1. cease all activities authorised by this Agreement and ensure that all authorised users also so cease;
   2. immediately destroy or return to Liv-ex (at Liv-ex´s option) all copies of the Licensed Property then in its possession, custody or control and, in the case of destruction, certify to Liv-ex that it has done so. 

5. CHANGES IN THIS AGREEMENT

1. Liv-ex may update the terms of this Subscription Agreement from time to time. Such changes will be effective when posted on the website. Your continued use of the Services after that date will constitute your continued acceptance of the changed Licence Agreement.