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 Oklahoma Residuals Clause for Basic Nondisclosure Agreement is a crucial provision that governs the treatment of confidential information shared between parties involved in a business relationship or transaction. This clause ensures that any information disclosed or obtained during the course of the agreement remains confidential, even after the agreement terminates or expires. The Oklahoma Residuals Clause provides protection against the unauthorized use or disclosure of valuable trade secrets, proprietary information, and sensitive business information. It serves as a safeguard to prevent the receiving party from using the disclosed information to gain a competitive advantage or disclose it to third parties without the disclosing party's consent. There are different variations of the Residuals Clause that can be included in a Basic Nondisclosure Agreement: 1. Standard Residuals Clause: This type of clause typically includes language that explicitly states that any information retained in the receiving party's memory, even if unintentional, is considered confidential and subject to the obligations outlined in the agreement. It emphasizes the importance of confidentiality and prohibits the use or disclosure of residual information. 2. Limited Residuals Clause: In some cases, parties may agree to limit the scope of the Residuals Clause to exclude the disclosure or use of residual information that is acquired through lawful means from third parties or if it becomes publicly known through no fault of the receiving party. 3. Narrow Residuals Clause: A narrow Residuals Clause may specify that only specific categories of confidential information shall be deemed as residual information and subject to the obligations of confidentiality. This helps define the boundaries of confidential information and restricts the protection to certain defined areas. 4. Broad Residuals Clause: Conversely, a broad Residuals Clause expands the scope of residual information to encompass all information disclosed during the agreement's duration, regardless of whether it falls under the definition of trade secrets or proprietary information. This provides more extensive protection to the disclosing party's information and enhances the overall confidentiality provisions. It is crucial for parties entering into a Nondisclosure Agreement in Oklahoma to carefully consider the inclusion of a Residuals Clause that aligns with their unique circumstances. Engaging legal professionals familiar with Oklahoma's specific regulations and case law regarding Nondisclosure Agreements can provide guidance on tailoring the Residuals Clause to meet the specific needs and objectives of the parties involved.The Oklahoma Residuals Clause for Basic Nondisclosure Agreement is a crucial provision that governs the treatment of confidential information shared between parties involved in a business relationship or transaction. This clause ensures that any information disclosed or obtained during the course of the agreement remains confidential, even after the agreement terminates or expires. The Oklahoma Residuals Clause provides protection against the unauthorized use or disclosure of valuable trade secrets, proprietary information, and sensitive business information. It serves as a safeguard to prevent the receiving party from using the disclosed information to gain a competitive advantage or disclose it to third parties without the disclosing party's consent. There are different variations of the Residuals Clause that can be included in a Basic Nondisclosure Agreement: 1. Standard Residuals Clause: This type of clause typically includes language that explicitly states that any information retained in the receiving party's memory, even if unintentional, is considered confidential and subject to the obligations outlined in the agreement. It emphasizes the importance of confidentiality and prohibits the use or disclosure of residual information. 2. Limited Residuals Clause: In some cases, parties may agree to limit the scope of the Residuals Clause to exclude the disclosure or use of residual information that is acquired through lawful means from third parties or if it becomes publicly known through no fault of the receiving party. 3. Narrow Residuals Clause: A narrow Residuals Clause may specify that only specific categories of confidential information shall be deemed as residual information and subject to the obligations of confidentiality. This helps define the boundaries of confidential information and restricts the protection to certain defined areas. 4. Broad Residuals Clause: Conversely, a broad Residuals Clause expands the scope of residual information to encompass all information disclosed during the agreement's duration, regardless of whether it falls under the definition of trade secrets or proprietary information. This provides more extensive protection to the disclosing party's information and enhances the overall confidentiality provisions. It is crucial for parties entering into a Nondisclosure Agreement in Oklahoma to carefully consider the inclusion of a Residuals Clause that aligns with their unique circumstances. Engaging legal professionals familiar with Oklahoma's specific regulations and case law regarding Nondisclosure Agreements can provide guidance on tailoring the Residuals Clause to meet the specific needs and objectives of the parties involved.
