Common use of Independent Development; Residuals Clause in Contracts

Independent Development; Residuals. Nothing in the terms of this Agreement and any Statement of Work shall be construed to limit Acumatica’s or Client’s right to independently develop or acquire products without the use of Confidential Information. Acumatica or Client shall be free to use for any purpose the Residuals resulting from access to or work with Confidential Information, provided such party shall maintain the confidentiality of Confidential Information as provided in this Section 6 and any other written confidentiality agreement between the parties. For purposes of this Agreement, “Residuals” shall mean technical information related to software technology in nontangible form, which may be retained by individuals who have had access, as permitted by this Agreement, to Confidential Information, including ideas, concepts, know-how or techniques contained therein. Neither Acumatica nor Client shall have any obligation to limit or restrict the assignment of such individuals or to pay compensation resulting from the use of the Residuals. Notwithstanding the foregoing, this Section shall not be construed to grant either Acumatica or Client a license of the other party’s copyrights or other intellectual property.