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LSDefine

Simple English definitions for legal terms

holdover clause

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A quick definition of holdover clause:

A holdover clause, also known as a trailer clause, is a promise made by an employee to give their employer the rights to any inventions they create while working for the company and for a certain amount of time after they leave. This promise is only valid if the time limit is reasonable.

A more thorough explanation:

A holdover clause, also known as a trailer clause, is a promise made by an employee to assign all rights to any inventions they develop while working for their employer, and for a certain period of time after their employment ends. In order for this promise to be legally binding, the time restriction must be considered reasonable.

For example, if an employee signs a contract with a holdover clause stating that they will assign all rights to any inventions they develop during their employment and for one year after their employment ends, they are legally obligated to do so. This means that if they develop an invention during that time period, they must give the rights to that invention to their employer.

Another example of a holdover clause is when a musician signs a contract with a record label. The contract may include a holdover clause stating that the musician must assign all rights to any songs they write during their contract and for a certain period of time after the contract ends. This ensures that the record label has control over the musician's music and can continue to profit from it even after the contract has ended.

hold out | hold pleas

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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