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.
The Iowa Residuals Clause for Consultant Agreement is an important provision that outlines the ownership and use of residual information or knowledge that a consultant may acquire during the course of their engagement. This clause seeks to protect the interests of both the consultant and the client by addressing the use of pre-existing and newly developed information. Under the Iowa Residuals Clause, there are different types of arrangements that can be specified in a Consultant Agreement. These types include: 1. Broad Residuals Clause: This type of clause grants the consultant ownership and unrestricted use of all residual information or knowledge obtained during the engagement. The consultant is allowed to use such information for their own benefit, even after the agreement is terminated. 2. Limited Residuals Clause: In this type of clause, the consultant is allowed to use the residual information or knowledge solely for the purpose of providing services to the client during the term of the agreement. Once the agreement ends, the consultant must discontinue using the residual information. 3. Assignment of Residuals: This type of clause considers all residual information or knowledge to be assigned to the client upon creation or discovery. The consultant retains no ownership rights, and the client is free to use the residual information without restrictions even after the agreement is terminated. It is important to carefully consider the specific needs and interests of both the consultant and the client when including a Residuals Clause in an Iowa Consultant Agreement. Legal advice from an attorney familiar with Iowa state laws can be beneficial in drafting an appropriate and enforceable clause. Keywords: residuals clause, consultant agreement, Iowa, ownership, use, residual information, pre-existing, newly developed, engagement, consultant, client, broad residuals' clause, limited residuals' clause, assignment of residuals, termination, attorney, enforceable clause.The Iowa Residuals Clause for Consultant Agreement is an important provision that outlines the ownership and use of residual information or knowledge that a consultant may acquire during the course of their engagement. This clause seeks to protect the interests of both the consultant and the client by addressing the use of pre-existing and newly developed information. Under the Iowa Residuals Clause, there are different types of arrangements that can be specified in a Consultant Agreement. These types include: 1. Broad Residuals Clause: This type of clause grants the consultant ownership and unrestricted use of all residual information or knowledge obtained during the engagement. The consultant is allowed to use such information for their own benefit, even after the agreement is terminated. 2. Limited Residuals Clause: In this type of clause, the consultant is allowed to use the residual information or knowledge solely for the purpose of providing services to the client during the term of the agreement. Once the agreement ends, the consultant must discontinue using the residual information. 3. Assignment of Residuals: This type of clause considers all residual information or knowledge to be assigned to the client upon creation or discovery. The consultant retains no ownership rights, and the client is free to use the residual information without restrictions even after the agreement is terminated. It is important to carefully consider the specific needs and interests of both the consultant and the client when including a Residuals Clause in an Iowa Consultant Agreement. Legal advice from an attorney familiar with Iowa state laws can be beneficial in drafting an appropriate and enforceable clause. Keywords: residuals clause, consultant agreement, Iowa, ownership, use, residual information, pre-existing, newly developed, engagement, consultant, client, broad residuals' clause, limited residuals' clause, assignment of residuals, termination, attorney, enforceable clause.
