This form is a "Residuals" Clause for Basic Nondisclosure Agreement usable in agreements regarding nondisclosure of licensing, patents, or commercial trade secrets. The residuals clause allows some disclosures of confidential information under certain limited circumstances.
The Oregon Residuals Clause is an important component found within the Basic Nondisclosure Agreement (NDA) used in the state of Oregon. This clause is specifically designed to protect both parties involved in the agreement by addressing the issue of residuals. Residuals refer to any information, knowledge, or ideas that one party may unknowingly retain after the termination of the agreement. The purpose of the Oregon Residuals Clause is to clearly define how residuals should be handled to prevent any potential misuse or misappropriation. By including this clause, both parties can have peace of mind knowing that any unintentional retention of confidential information will be properly addressed and managed. The Oregon Residuals Clause typically includes specific guidelines that outline what qualifies as residuals, how they should be handled, and the obligations of the receiving party to protect them. Here are a few key keywords relevant to the Oregon Residuals Clause: 1. Residuals: Refers to any information, ideas, or knowledge that a party retains, unintentionally or subconsciously, after termination of the NDA. 2. Protection: This keyword emphasizes the need for the receiving party to take necessary measures to safeguard any residuals from disclosure or unauthorized use. 3. Confidentiality: Highlights the overarching theme of the NDA, indicating that any information considered confidential should be handled with utmost care and discretion. 4. Handling and Disposal: Specifies the procedures and protocols to be followed when managing or disposing of residuals to ensure compliance with the NDA and avoid potential breaches. 5. Non-Compete: In some cases, the Oregon Residuals Clause may address the issue of non-compete agreements, prohibiting the receiving party from using the retained information to enter into competition with the disclosing party. It's important to note that while the keyword variations may exist based on specific agreements or circumstances, the Oregon Residuals Clause generally focuses on these core aspects. Additionally, it's worth mentioning that there may be different types of Oregon Residuals Clauses depending on the industry, the nature of the confidential information being shared, and the unique needs of the parties involved.
