license agreement ( this “ agreement ” ) made as of may 21, 2009, between : ableauctions. com inc., of 1963 lougheed highway, coquitlam, british columbia, canada, v3k 3t8 between : between : ( hereinafter called the “ company ” ) ; and icollector technologies ltd., of 1963 lougheed highway, coquitlam, british columbia, canada, v3k 3t8 and and ( hereinafter called “ icollector ” ) ; and abc live auction world ltd., of 1963 lougheed highway, coquitlam, british columbia, canada, v3k 3t8 and and ( hereinafter called “ abc ” ) ; ( hereinafter collectively called the “ parties ” and individually, a “ party ” ) whereas : a. the company ’ s subsidiary icollector carries on a business ( the “ icollector business ” ) consisting of : ( i ) broadcasting business and industrial auctions over the internet for auctioneers and members of the national auctioneers association ( “ naa ” ), using the company ’ s licensed proprietary technology ( www. ableauctions. com / technology ) through the website www. naalive. com and www. naaonlinesolutions. com. ( i ) ( i ) ( ii ) broadcasting antique and collectible auctions over the internet for numerous galleries and auction houses throughout the world. prior to december 31, 2008, these auctions were facilitated using ebay ’ s live auction technology. commencing january 1, 2009, these auctions are facilitated using the company ’ s proprietary technology ( www. ableauctions. com / technology ) through the company ’ s website, www. icollector. com. ( ii ) ( ii ) ( iii ) providing auction - related products and services for a fee ( www. icollectorlive. com / services. aspx ). ( iii ) ( iii ) and whereas abc wishes to contract with icollector to perform the icollector business operations, and to sublicense from icollector certain tangible and intangible assets icollector licenses from the company for use in the icollector business ( collectively, the “ licensed assets ” ), and icollector and the company have agreed to that contracting and sublicensing on