Source code essentially is a text listing of commands to be compiled or assembled into an executable computer program. A source code license agreement is a binding contract that permits the owner of source code or the software thereto to license his / her intellectual property for commercial gain. commercial gain accrues in the form of royalty, profit sharing or simply an upfront lump sum amount. Here under is a sample source code license agreement which will help one better understand the contours of such a contract. You could have one drafted for your business needs at the undermentioned price: