By Michael Baumert, Mayer Brown LLP ( January 9, 2017, 3:59 PM EST) -- Under a typical software license, the owner grants the acquiring party the right to use the owner's software. Usually, such a license is not without restrictions. The owner, may, among other things, limit the acquiring party's use of the software to the object code or restrict the use to a specific geographical territory. Frequently, the owner promises to maintain the licensed software, to provide technical support and, from time to time, to deliver upgrades. Importantly, while granting the license, the owner reserves the bundle of intellectual property rights to the software, upgrades, processed data, and all of the deliverables. For decades, this model operated successfully, allowing both parties to obtain mutual benefits. However, without certain adjustments, this licensing model may no longer be appropriate for the licensing of artificial intelligence systems....