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 South Carolina Residuals Clause for Basic Nondisclosure Agreement is a legal provision aimed at protecting confidential information shared between parties by addressing the treatment of residual knowledge or information gained during the execution of the agreement. It safeguards the disclosing party's trade secrets, proprietary data, and valuable information from being inadvertently disclosed or misused by the receiving party. In a Basic Nondisclosure Agreement (NDA), the Residuals Clause in South Carolina is an essential element to include, ensuring that the disclosed information remains confidential even after the termination or expiration of the agreement. By explicitly addressing residual knowledge, it offers additional protection beyond the initial term of the NDA. Keywords: South Carolina, Residuals Clause, Basic Nondisclosure Agreement, legal provision, confidential information, trade secrets, proprietary data, valuable information, disclosing party, receiving party, protecting, inadvertent disclosure, misuse, termination, expiration, additional protection. Types of South Carolina Residuals Clause for Basic Nondisclosure Agreement: 1. Broad Residuals Clause: This type of clause states that the receiving party shall not be restricted from using or disclosing any information that, at the time of disclosure, was already known or independently developed by the receiving party or becomes publicly available through no fault of the receiving party. 2. Limited Residuals Clause: This clause allows the receiving party to use or disclose residual knowledge gained during the execution of the NDA but only to the extent that it does not violate the disclosing party's rights or disclose any trade secrets or proprietary information. 3. Non-Existent Residuals Clause: In some cases, parties may choose to exclude a residuals' clause from the Basic Nondisclosure Agreement altogether, meaning that any residual knowledge gained during the agreement's execution will still be subject to confidentiality obligations. Keywords: Broad Residuals Clause, Limited Residuals Clause, Non-Existent Residuals Clause, disclosure, knowledge, independently developed, publicly available, fault, rights, trade secrets, proprietary information, exclusion, confidentiality obligations.
