Summary
Confidentiality clauses in contracts require parties to use confidential information only for specified transactions and share it only with certain entities or individuals who need to know. Trade secrets must remain confidential as long as they are legally considered trade secrets. During the confidentiality period, parties must not disclose the other partys confidential information to third parties and must protect it using reasonable means. Confidential information does not include information that belongs to...Full Conversation
explain in layman's terms: During the Term (defined below) and for a period of two (*) years thereafter, except
in the case of trade secrets, which shall remain subject to the following requirements for as long as
they remain trade secrets under applicable law (in total, the “Confidentiality Period”), each Party may
use Confidential Information received from the other Party only in connection with the Transactions,
and may provide such Confidential Information only to its respective parent company, subsidiaries,
affiliates under common control with the Party and their employees and agents for their use in
connection with the Transactions, provided that any such parent company, subsidiary, affiliate,
employee, or agent: (i) has a demonstrable need to know or use such
Sure Robert, here's a simplified version:
For the term of the agreement and for two years after it ends, both parties can only use the confidential information they receive from each other for the specified transactions. They can share this information with their parent companies, subsidiaries, affiliates, and their employees and agents, but only if they need to know or use it for the transactions. Trade secrets must always be kept confidential as long as they remain trade secrets according to the law.
Except as
expressly permitted hereunder, during the Confidentiality Period, neither Party shall disclose the
other Party’s Confidential Information to any other person, entity, or third party and shall use the
same means it uses to protect its own confidential proprietary information, but in any event not less
than reasonable means, to prevent the disclosure and to protect the confidentiality of Confidential
Information.
(c) Confidential Information shall not include information which belongs t
It sounds like you're dealing with a confidentiality clause in a contract. Here’s a simplified version of the new paragraph you provided:
- During the confidentiality period, both parties must not share the other party's confidential information with anyone else.
- They must protect the confidential information using the same methods they use for their own information, but at least by reasonable means.
- Confidential information does not include information that belongs to...
Is there a specific part you're unsure about or need further clarification on?
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