Please HELP me decipher the Non-disclosure agreement.

Discussion in 'Growing and Managing a Business' started by dave789, Jul 4, 2012.

  1. dave789

    dave789
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    Hello!
    I am required to sign up the NONDISCLOSURE agreement with an employer but I feel uneasy about the following passage:



    7. Reserved Rights and License. In the event the Contractor owns any inventions, works of authorship, designations, designs, know-how. ideas, information and trade-secrets in which Contractor possesses any proprietary rights ("Other Inventions"), the Contractor agrees not to use any such Other Inventions in the course of rendering any Services for ########## (including any deliverables or work product created thereunder), without ########## 's prior written consent. However, in the event that Contractor incorporates, uses, or otherwise employs ("Use") any Other Inventions to perform or in the course of rendering Services or develop or modify any work (including any interim versions thereof and whether for internal and/or customer use) of or for ##########, Contractor hereby grants to ########## perpetual, irrevocable, royalty free, worldwide, nonexclusive, sub licensable license to make, have made, perform, display, use. practice, sell, sublicense, reproduce, distribute, prepare derivative works, and otherwise exploit such proprietary rights and Other Inventions as if ########## was the owner thereof.


    Does this section mean that any personal developments that I create during the work at the ########## company will be automatically considered THEIR intellectual property?

    Thanks!!!
     
  2. Fergal

    Fergal
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    Dave, are you the "Contractor" in this instance?

    Are you registered as an employee of the company?
     

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