Common use of Retained Know-How Clause in Contracts

Retained Know-How. Customer acknowledges that TransactTools provides professional services and monitoring, configuring and testing services for other parties, and agrees that nothing herein will be deemed or construed to prevent TransactTools from carrying on such services. Nothing in this Agreement will preclude TransactTools from developing for itself, or for others-, materials that are competitive with those produced as a result of the services provided under this Agreement, irrespective of their similarity to items that may be developed by Customer under this Agreement. TransactTools will have the right to use techniques, methodologies, tools, ideas and other know-how gained during the performance of the services in the furtherance of its own business and to perfect all other intellectual property rights related thereto, including patent, copyrights (except as otherwise stated above) trademark and trade secrets.