Licensing Agreements for Software Development

A person has contributed a business idea (knowledge) that I use to build a software. Therefore

1) I intend to pay a fixed % per product sale for the idea.

2) I intend to pay a reseller commission per product sale.

3) I intend to pay a % in A&P support upon achieving a certain product sale target.

Does this fall under software licensing agreement or is there another term for it?

Your help is kindly appreciated.

Thank You.

You can enter into an agreement with this person, offering any compensation you find mutually acceptable in relation to your use of their ideas. If they are seeking to best protect themselves, they should enter into a contract with you before sharing the idea.

What U.S. state are you in?

I am from an asian country and our judiciary system is based on the British.

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Quoting solomon_13000

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I am from an asian country and our judiciary system is based on the British.

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Then you need to find a site that deals with the law in that Asian nation. This site focuses on law in the United States. While your nation’s legal system may be based on U.K. law, it will not be exactly the same and you need to know what the specific laws are for your particular nation (and any other nation in which you may market the software).