This HTMLized version is not the official one. I just took the official one and reformatted it to be more readable. A copy of the license as distributed with Hypercosm Studio 1.3.2 is available here.

1. GRANT OF LICENSE
2. OTHER RESTRICTIONS AND OWNERSHIP
3. LIMITATION/DISCLAIMER OF WARRANTIES, SUPPORT AND LIABILITY.
4. ADVERTISING AND DATA RIGHTS.
5. GENERAL

LICENSE AGREEMENT FOR HYPERCOSM STUDIO™ SOFTWARE

IMPORTANT - READ CAREFULLY: This License Agreement (the "Agreement") is a legal agreement between you (either an individual or a single entity) and Hypercosm, Inc. ("Hypercosm™") for the version of the Hypercosm Studio™ Software which you are about to download or install (the "Hypercosm Studio Software") and any of the following, if provided to you with the Hypercosm Studio Software: "online" or electronic documentation, models and multimedia content included with the Hypercosm Studio Software (collectively, the Hypercosm Studio Software and such associated materials and content are referred to as the "Hypercosm Studio Product"). This Agreement licenses the Hypercosm Studio Product to you and contains important legal provisions including warranty and liability disclaimers. By clicking the "Yes" button below, you agree to be bound by the terms of this Agreement.

If you do not agree to the terms of this Agreement, click the "No" button. If you click the "No" button or do not click the "Yes" button, then you are not authorized to use the Hypercosm Studio Product.

1. GRANT OF LICENSE

This Agreement grants you the following rights:

Internal Installation and Use. You may install and use an unlimited number of copies of the Hypercosm Studio Product on computers for the purpose of developing applets that are accessed using the Hypercosm 3D Player(tm).

Right to Copy. You may make an unlimited number of copies of the Hypercosm Studio Product for your own use, except that you will not make copies of any manuals (electronic or otherwise) provided to you to the extent such copies are separate files provided by Hypercosm. If you are a natural person (not an organization or other entity), you may also make an unlimited number of copies of the Hypercosm Studio Product for distribution to others, provided you distribute the copies pursuant to the Right to Distribute section below. You must reproduce on any copy you make all copyright and trademark notices and any other proprietary legends found on the original Hypercosm Studio Product.

Right of Natural Persons to Distribute. If you are a natural person (not an organization or other entity), you may distribute the Hypercosm Studio Product to others or allow others to make a copy of the Hypercosm Studio Product for their use, provided that: (a) the version of the Hypercosm Studio Product that you distribute or make available for copying by others must be the most recent version of Hypercosm Studio Product that has been released by Hypercosm (if such version is licensed under different distribution rules, then you will not have the right to distribute the Hypercosm Studio Product except as provided in the license for that version); (b) you do not charge any fees, royalties, sales price, access charge or any other money or consideration with respect to the distribution of the Hypercosm Studio Product (except that you may charge fees for the distribution of your own product that includes the Hypercosm Studio Product if your own product represents more than one-half of the value of the overall product and the price you charge for your own product, when sold or licensed separately, is not less than the price at which your own product is sold when it contains the Hypercosm Studio Product); and (c) before you distribute the Hypercosm Studio Product to others or allow others to make copies of the Hypercosm Studio Product, you must first require them to agree to the terms of this Agreement and inform them that this Agreement will be enforceable by Hypercosm against them.

Limited Distribution Rights for Organizations. If you are an organization or other entity (not a natural person), then: (a) you may distribute sample OMAR code that was included with the Hypercosm Studio Product, but only with applets created using the Hypercosm Studio Product that are intended to be accessed solely with the Hypercosm 3D Player; and (b) this Agreement does not give you any right to distribute any other part of the Hypercosm Studio Product or make it available for copying by others.

Upgrades or Updates. This Agreement does not give you a right or license to any updates or upgrades that Hypercosm may make available to the Hypercosm Studio Product. However, if Hypercosm does provide you in the future with any updates or upgrades to the Hypercosm Studio Product without requiring a separate license agreement, then such updates or upgrades shall be considered a part of the Hypercosm Studio Software and Hypercosm Studio Product for all purposes of this Agreement.

2. OTHER RESTRICTIONS AND OWNERSHIP

Non-exclusivity and Revocability. This license is non-exclusive and revocable. Hypercosm retains the right to license others as it considers appropriate.

Separation of Components. The Hypercosm Studio Software and associated content are licensed together, solely as a single Hypercosm Studio Product. You will not separate these component parts or any parts of the Hypercosm Studio Software itself for use on more than one computer or make copies of any content files or applets separate from any permitted copying of the Hypercosm Studio Product as a whole, except that you may use the sample OMAR code in your own applets as provided above.

Modifications, Reverse Engineering. You will not modify or create any derivative works based on the Hypercosm Studio Product or any part of the Hypercosm Studio Product, except that you may modify sample OMAR code in applets that you create using the Hypercosm Studio Product that require the use of the Hypercosm 3D Player to be accessed by the end user. You agree that you will not reverse engineer, decompile, or disassemble the Hypercosm Studio Product, except and only to the extent that such activity is expressly permitted by applicable law notwithstanding this limitation.

Ownership; Reservation of Rights. This license gives you limited rights to the Hypercosm Studio Product. You do not own the Hypercosm Studio Product or any intellectual property rights in the Hypercosm Studio Product. All title and copyrights to the Hypercosm Studio Software and the Hypercosm Studio Product (including but not limited to any images, photographs, animations, video, audio, music, text or other content or "applets" included in the Hypercosm Studio Product as provided to you) are owned by Hypercosm and its suppliers. The Hypercosm Studio Product is protected by copyright laws and international treaty provisions. Therefore, you must treat the Hypercosm Studio Product like any other copyrighted material in light of the express rights granted to you in this Agreement. ALL RIGHTS NOT EXPRESSLY GRANTED IN THIS AGREEMENT ARE RESERVED BY HYPERCOSM.

U.S. Export Rules. You will not export or reexport, directly or indirectly, the Hypercosm Studio Product or any part of the Hypercosm Studio Product into any country prohibited by the United States Export Administration Act and regulations thereunder.

U.S. GOVERNMENT RESTRICTED RIGHTS. This Hypercosm Studio Product is provided with RESTRICTED RIGHTS. Use, duplication or disclosure by the Government is subject to restrictions set forth in this Agreement and the restricted rights applicable to commercial computer software (under DFARS 252.227-7013 or FAR 52.227-19 or parallel regulations, as applicable). The Manufacturer is Hypercosm, Inc., 3230 Deming Way, Middleton, WI, 53562 USA.

3. LIMITATION/DISCLAIMER OF WARRANTIES, SUPPORT AND LIABILITY.

NO WARRANTIES. YOU ACKNOWLEDGE THAT THE HYPERCOSM STUDIO PRODUCT WAS PROVIDED TO YOU FREE OF CHARGE AND THIS HYPERCOSM STUDIO PRODUCT IS PROVIDED TO YOU "AS IS." TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, HYPERCOSM AND ITS SUPPLIERS DISCLAIM ALL WARRANTIES AND CONDITIONS, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR TITLE, ANY IMPLIED WARRANTY AGAINST INTERFERENCE WITH YOUR ENJOYMENT OF THE HYPERCOSM STUDIO PRODUCT OR AGAINST NON-INFRINGEMENT, AND ANY IMPLIED WARRANTIES RELATING TO THE PROVISION OF OR FAILURE TO PROVIDE SUPPORT SERVICES OR ANY UPDATES OR UPGRADES TO THE HYPERCOSM STUDIO PRODUCT. YOU MAY HAVE OTHER LEGAL RIGHTS, WHICH VARY FROM STATE/JURISDICTION TO STATE/JURISDICTION.

NO LIABILITY FOR DAMAGES. IN NO EVENT SHALL HYPERCOSM OR ITS SUPPLIERS BE LIABLE FOR ANY DAMAGES WHATSOEVER ARISING OUT OF THIS AGREEMENT, THE USE OF OR INABILITY TO USE THE HYPERCOSM STUDIO PRODUCT OR THE PROVISION OF OR FAILURE TO PROVIDE SUPPORT SERVICES, EVEN IF HYPERCOSM HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. BECAUSE SOME STATES AND JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY, THE ABOVE LIMITATION MAY NOT APPLY TO YOU.

NO LIABILITY FOR CONSEQUENTIAL OR OTHER DAMAGES. IN NO EVENT SHALL HYPERCOSM OR ITS SUPPLIERS BE LIABLE FOR ANY SPECIAL, INCIDENTAL, INDIRECT, OR CONSEQUENTIAL DAMAGES, OR ANY DAMAGES FOR LOSS OF BUSINESS PROFITS, BUSINESS INTERRUPTION, LOSS OF BUSINESS INFORMATION, OR ANY OTHER PECUNIARY LOSS ARISING OUT OF THIS AGREEMENT, THE USE OF OR INABILITY TO USE THE HYPERCOSM STUDIO PRODUCT OR THE PROVISION OF OR FAILURE TO PROVIDE SUPPORT SERVICES, EVEN IF HYPERCOSM HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE LIMITATION ON DAMAGES IN THIS PARAGRAPH IS INDEPENDENT OF AND IN ADDITION TO OTHER PROVISIONS IN THIS AGREEMENT RELATING TO REMEDIES OR LIABILITIES AND SHALL BE ENFORCEABLE EVEN IF SUCH OTHER PROVISIONS ARE UNENFORCEABLE OR FAIL OF THEIR ESSENTIAL PURPOSE. BECAUSE SOME STATES AND JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY, THE ABOVE LIMITATION MAY NOT APPLY TO YOU.

4. ADVERTISING AND DATA RIGHTS.

You understand and agree to the following:

During the period that a content applet created by the Hypercosm Studio Product is being downloaded to the user's computer for display by the Hypercosm 3D Player, the Hypercosm 3D Player may automatically place an advertisement from one of Hypercosm's advertisers on the screen. Hypercosm will receive revenues from such advertisements. In addition, while the applet is displayed on the user's screen, the Hypercosm 3D Player may place a small advertisement in the corner of the content being displayed to the user. If you register with Hypercosm and sign the applets you create, you may be entitled to receive some compensation from Hypercosm under its Content Creator Program. Please see the agreement applicable to registration in the Content Creator Program for details. Please be aware that if you do not register and sign an applet, you will not be entitled to any payments under Hypercosm's Content Creator Program and it may be possible for another party to sign the applet and receive revenues for your content under the Content Creator Program. The Hypercosm 3D Player may also transmit data relating to or derived from the end-user's use of the Product or any content or web sites accessed by use of the Product, or from the content that an end user accesses with the Product (collectively, the "Data"). You understand and agree that the Hypercosm 3D Player may show advertising as described above to users who wish to view any content you create and that you are not entitled to any fee or other payment with respect to such advertisement except as specifically provided in the agreement for the Content Creator Program. To the extent such advertising is considered to create a derivative work of any content you create, Hypercosm is licensed to create such a derivative work as provided in this Section 4. Nothing in this Section 4 is intended to suggest that you or any other content creator would have the right to receive any fee or preclude any advertisement shown through the Hypercosm 3D Player in the absence of this Agreement. You agree that Hypercosm shall have the right to mine or otherwise obtain any Data from a user of the Hypercosm 3D Player, including without limitation any Data that may be generated by or stored using content created by you. You have no rights to the Data and Hypercosm shall have the right to use the Data as it deems appropriate without paying you any fees or royalties with respect thereto.

If you do not want advertising to be played in connection with content you create, you may wish to discuss such desire with any web site owners who use the content you create. Web site owners may obtain the right from Hypercosm to disable the advertising features of the Hypercosm 3D Player by paying Hypercosm a fee to be agreed to by Hypercosm and the applicable web site owner.

5. GENERAL

Governing Law and Forum. This Agreement shall be governed by and construed in accordance with the State of Wisconsin without giving effect to the principles of conflict of law thereof. To the extent permitted by applicable law, any actions brought by any party with respect to this Agreement or the Hypercosm Studio Product shall be brought exclusively in courts located in Dane County, Wisconsin, and each party hereto hereby consents to the personal jurisdiction of such courts.

Complete Agreement. This Agreement contains the complete agreement between the parties with respect to the subject matter hereof, and supersedes all prior or contemporaneous agreements or understandings, whether oral or written. Any representation, promise, warranty, covenant or undertaking not expressly set forth in this license shall not be deemed a part of the Agreement or otherwise legally effective.

Severability. If a term or condition of this license is invalid or unenforceable, the remaining terms and conditions will remain in full force and effect.

Termination. Hypercosm may terminate this Agreement and/or revoke any or all licenses described in this Agreement at any time. Sections 2-5 of this Agreement shall survive termination.

Amendment. Hypercosm reserves the right, in its sole discretion, to change, modify, add or remove all or part of this Agreement. Hypercosm will notify you of any modifications or amendments to this Agreement by posting a notice on the web site on which this Agreement is located. As used throughout this Agreement, the phrase "Agreement" shall include any amendments or modifications to the Agreement expressed herein.

No Agency. Hypercosm and you are each independent entities and neither party shall be, nor represent itself to be, a franchisor, franchisee, joint venturer, partner, master, servant, principal, agent or legal representative of the other party for any purpose whatsoever.