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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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JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
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omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
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then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
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