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MegaChain.com Signs EEC Licensing Option

MegaChain.com Ltd. has signed an agreement with Greenchip Investments PLC for the rights to license the MegaChain software system for the EEC.

Under the terms of the deal, UK-based Greenchip's will acquire an exclusive license to use and distribute, throughout the EEC, all products and technologies developed by MegaChain.com, Ltd. Greenchip hopes to develop a number of EEC-based MegaChain systems that would offer retailer incentives via referral-based e-mail to EEC online purchasers.

MegaChain.com, Ltd. would provide all hardware specifications, e-commerce software, updates and technical support on a licensing fee and royalty basis.

The agreement does not prevent MegaChain from discussing licensing agreements with other parties, but does grant Greenchip the right of first refusal to match any third party's offer.