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.
Pennsylvania Residuals Clause for Basic Nondisclosure Agreement
State:
Multi-State
Control #:
US-TS8025A
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Word;
PDF;
Rich Text
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How to fill out Residuals Clause For Basic Nondisclosure Agreement?
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FAQ
Fixed compensation clauses will provide for the discloser to be paid a pre-determined amount (rather than an amount calculated by the actual loss suf- fered if the recipient breaches the NDA). They are often referred to as a ?penalty? or ?liquidated damages? clause.
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 ...
Obligations can include: not using or exploiting the confidential information in any way except for the purpose; not recording the confidential information except as strictly necessary for the purpose; not transmitting it in any form or by any means outside its usual place of business; and not directly or indirectly ...
A residuals clause is a provision in an IP agreement or non-disclosure agreement stipulating that if a party learns some general information regarding the other party's IP while working with the other party, the party learning such information is free to use that information retained in its unaided memory in its own ...
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 ...
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 ...
Commonly though, in Pennsylvania, non-disclosure and related documents such as non-compete and non-solicitation agreements are enforceable if they adhere to the following: >> If they are included in an employment contract or employment relationship. >> If they are supported by adequate consideration.
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.
