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.
Rhode Island Residuals Clause for Consultant Agreement
State:
Multi-State
Control #:
US-TS8029
Format:
Word;
PDF;
Rich Text
Instant download
Description
How to fill out Residuals Clause For Consultant Agreement?
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FAQ
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? 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.
Particularly common in the NDAs provided by big tech and big pharma, a 'residuals' clause operates to allow a party receiving confidential information to keep and use [residual] knowledge gleaned during the course of the relevant matter/discussions and retained in the memory of those employees working on it.
A residual clause is a contractual provision typically found in non-disclosure agreements where a party receiving confidential information may use or disclose the same without violating the terms of the agreement.
"Residuals" means information retained in the unaided memory of an individual who has had access to Confidential Information. The Receiving Party shall have no obligation to pay royalties for any use of Residuals.
A residual clause is a contractual provision typically found in non-disclosure agreements where a party receiving confidential information may use or disclose the same without violating the terms of the agreement.
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 ...
Five other key features must be included in your NDA to ensure it's legally binding, including a description of confidential information, obligations of the parties involved, any exclusions, the term of the agreement and consequences of a breach.
