Common use of Improper Use of Corporate Assets Clause in Contracts

Improper Use of Corporate Assets. The assets of Hll are much more than our equipment, inventory, corporate funds or office supplies. They include designs, drawings, software codes, trade secrets, financial data, and other information about Hll. These assets are only to be used for the benefit of Hll. They may not be used for the personal gain of employees or others. Each employee is responsible for making sure that Hll assets are used only for valid company purposes. Thus, employees may not transfer any Hll assets to other people or firms, except for sale of goods in the ordinary course of business. Intentional misapplication or waste of Hll equipment, tools, materials, supplies or other assets is a violation of this Policy. In addition, unauthorized removal of these assets from Hll facilities may be a violation of the law. In the event that assets which are no longer needed in the business are sold to employees, such sales must be approved by management and supported by proper documentation.