This form is a "Residuals" Clause for a Consultant Agreement usable in consulting agreements where consultant exposure to commercial trade secrets or other confidential information is a factor. The residuals clause allows some disclosures of confidential information under certain limited circumstances.
Oregon Residuals Clause for Consultant Agreement
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US-TS8029
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How to fill out Residuals Clause For Consultant Agreement?
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FAQ
?Residuals? or ?residual information? is often defined as ?non-tangible information? or information retained by the recipient unaided by documents provided by the disclosing party. In other words, a ?residual? is confidential information ? the information that the NDA otherwise protects.
What is Residuary or Residual Clause? A clause in a will that disposes of any estate property that remains after satisfaction of all other gifts.
A provision found in confidentiality agreements providing that employees of the party receiving the confidential information can use confidential information retained in their memories.
Residuals clauses are predominantly found in Confidentiality Agreements and are clauses specifically drafted with the intention of permitting a party disclosing confidential information to avail itself of, share such information and ideas which are maintained as a seeming direct consequence of the constructive ...
The term ?residuals? means that Confidential Information in non-tangible form, which may be retained in the memories of individuals who have had rightful access to such Confidential Information under this Agreement.
Typically, the residual provision states that a person receiving confidential information may use or share that information if it's done using his or her unaided memory.
This clause allows the receiving party to use, without restriction, some ?residual? information that is received during the course of the relationship between the parties, usually covering information that a party's personnel recollects from its ?unaided memory.? A ?residuals? clause can raise concerns for the ...
Related Content. A provision found in confidentiality agreements providing that employees of the party receiving the confidential information can use confidential information retained in their memories.
