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 Travis Texas Residuals Clause for Basic Nondisclosure Agreement is an essential component of any confidentiality agreement used within the jurisdiction of Travis County in Texas. This clause specifically addresses the handling of residual information that may be possessed by the receiving party after the termination or expiration of the agreement. It serves to define the obligations and limitations of the receiving party concerning any residual information retained after the agreement's conclusion. Under this clause, the receiving party acknowledges that despite efforts to avoid the use or disclosure of confidential information, residual knowledge or information may still be present in the receiving party's memory or systems. However, the clause stipulates strict guidelines for the handling of such residual information to ensure continued protection of the disclosed confidential information. The key purpose of the Travis Texas Residuals Clause is to provide clear guidance on the following aspects: 1. Definition of Residual Information: The clause categorizes residual information as the knowledge or information retained in the receiving party's memory or systems, acquired through their exposure to the disclosing party's confidential information. 2. Non-Use and Non-Disclosure Obligations: The clause emphasizes that the receiving party shall not use or disclose the residual information for any purpose other than to fulfill their obligations under the agreement and prohibits it from integrating the residual information into their business operations. 3. Duty of Care: The receiving party is required to exercise reasonable care in preventing any unauthorized use or disclosure of the residual information, ensuring its protection with the same level of care as they would use for their own confidential information. 4. Limitations on Residual Information Use: The clause aims to restrict the use of residual information to prevent the receiving party from gaining unfair competitive advantages or using the residual knowledge as a foundation for further developments or innovations. It is important to note that while the concept of the Travis Texas Residuals Clause remains consistent, the specific language and details within the clause may vary depending on the particular non-disclosure agreement or legal counsel involved. Different attorneys or legal professionals may use slightly different formulations within the clause while abiding by the general principles outlined above.The Travis Texas Residuals Clause for Basic Nondisclosure Agreement is an essential component of any confidentiality agreement used within the jurisdiction of Travis County in Texas. This clause specifically addresses the handling of residual information that may be possessed by the receiving party after the termination or expiration of the agreement. It serves to define the obligations and limitations of the receiving party concerning any residual information retained after the agreement's conclusion. Under this clause, the receiving party acknowledges that despite efforts to avoid the use or disclosure of confidential information, residual knowledge or information may still be present in the receiving party's memory or systems. However, the clause stipulates strict guidelines for the handling of such residual information to ensure continued protection of the disclosed confidential information. The key purpose of the Travis Texas Residuals Clause is to provide clear guidance on the following aspects: 1. Definition of Residual Information: The clause categorizes residual information as the knowledge or information retained in the receiving party's memory or systems, acquired through their exposure to the disclosing party's confidential information. 2. Non-Use and Non-Disclosure Obligations: The clause emphasizes that the receiving party shall not use or disclose the residual information for any purpose other than to fulfill their obligations under the agreement and prohibits it from integrating the residual information into their business operations. 3. Duty of Care: The receiving party is required to exercise reasonable care in preventing any unauthorized use or disclosure of the residual information, ensuring its protection with the same level of care as they would use for their own confidential information. 4. Limitations on Residual Information Use: The clause aims to restrict the use of residual information to prevent the receiving party from gaining unfair competitive advantages or using the residual knowledge as a foundation for further developments or innovations. It is important to note that while the concept of the Travis Texas Residuals Clause remains consistent, the specific language and details within the clause may vary depending on the particular non-disclosure agreement or legal counsel involved. Different attorneys or legal professionals may use slightly different formulations within the clause while abiding by the general principles outlined above.
