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This confidentiality agreement is entered into as of _______________ (date), by and between WTU, and __________________________________ (recipient organization name), which together with its subsidiaries and affiliates, shall individually and collectively be referred to hereinafter as the “Recipient.”
WTU and
Recipient hereby agree as follows:
1. WTU
created and is the Owner and developer of an idea for a new product
(hereinafter referred to as the “System”). By disclosing this information, WTU
grants Recipient no license or right, by implication or otherwise, to use this
information for any purpose other than the specific business purposes of WTU as
found in written agreement(s) to be separately negotiated.
2.
Recipient acknowledges that the System and all related documentation, including
but not limited to descriptions of the System or its component parts, all
product mock-ups, product prototypes, product samples, product technical
specifications, product input data, product-related know-how, product-related
new and different ideas, product technology, all or any of which may be derived
from any of the foregoing (all of which, individually and collectively, shall
hereinafter be referred to as the “Proprietary Information”) are valuable,
confidential, and proprietary to WTU.
3. WTU
and Recipient wish to discuss mutually beneficial business arrangements and
relationships that in some way concern, or are related to the System. Recipient
acknowledges that disclosure of this information constitutes consideration for
this agreement because it wishes to pursue the opportunity of business dealings
with WTU. Recipient agrees not to use Proprietary Information for its own use
or for any other purpose except to evaluate whether it desires to enter into a
business relationship with WTU, or as necessary, to carry on such a
relationship. Recipient furthermore agrees to manage all of its workers who
come into contact with Proprietary Information such that the obligations and
duties described in this agreement will be strictly enforced.
4.
Recipient agrees to hold the Proprietary Information in strict confidence.
Recipient furthermore agrees not to reproduce, transcribe, or disclose the
Proprietary Information to third parties without prior written approval of WTU.
Recipient also agrees not to make, have made, use, distribute or sell for its
own purposes or for any purpose other than on behalf of WTU, any product
incorporating Proprietary Information. Recipient furthermore agrees to promptly
return all copies, renderings, transformations, and derivatives of such
information to WTU at the termination of its discussions or work dealing with
the System.
5. The
obligations imposed by this Agreement shall not apply to any information that
is:
6. This
agreement supersedes and replaces all existing agreements, written or
otherwise, entered into between Recipient and WTU dealing with the subject
matter discussed herein.
7.
Recipient agrees that, in the event of a breach of this non-disclosure
agreement, that WTU shall be entitled to an injunction to enforce the terms and
conditions of this agreement, and to protect its Proprietary Information.
Recipient additionally agrees that this shall not preclude WTU for pursuing
further actions or remedies at law or in equity, for any breach or threatened
breach of the terms of this agreement, including but not limited to the
recovery of damages.
8. If
any one or more of the terms of this agreement shall for any reason be held to
be invalid, illegal, or unenforceable in any other respect, these problems
shall not affect the overall intention of the agreement, nor shall it affect
the degree to which the other terms remain binding, nor shall it interfere with
the enforcement of or the duty to comply with the other terms found in this
agreement. This agreement is governed by the laws of [insert relevant
jurisdiction].
9. The
terms of this agreement will be in effect for five years from the time that the
Recipient receives information from WTU. Each time that WTU provides new
confidential information to Recipient, the period when this information must be
held confidential will then continue for five years from that time. Termination
of the proposed or actual working relationship between Recipient and WTU in no
way invalidates the binding nature of this agreement or the period when it
remains in effect.
10.The
person signing below for Recipient represents that he or she is an authorized
representative and/or corporate officer of the Recipient organization. |
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