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Third Party Information means confidential or proprietary information subject to a duty on the Company's and its affiliates' part to maintain the confidentiality of such information and to use it only for certain limited purposes.
In the sample agreement, the "Disclosing Party" is the person disclosing secrets, and the "Receiving Party" is the person who receives the confidential information and is obligated to keep it secret.
The Key Elements of Non-Disclosure AgreementsIdentification of the parties.Definition of what is deemed to be confidential.The scope of the confidentiality obligation by the receiving party.The exclusions from confidential treatment.The term of the agreement.
A confidentiality agreement is a standard written agreement that is used to protect the owner of an invention or idea for a new business. It is also an important document between two companies that are contemplating a merger or a commercial transaction that must be withheld from public knowledge.
For purposes of this Section 8(p), Third-Party Confidentiality Agreements means the confidentiality agreements that Target entered into with prospective purchasers (other than Buyer) of the business of the Companies.
A confidentiality agreement, which is also known as non-disclosure agreement or simply as an NDA, is simply a contract between two or more parties where the subject of the agreement is a promise that information conveyed will be maintained in secrecy.
3 Third Party Rights It is important to include a clause that states that the NDA does not give rise to any third party rights from the Contracts (Rights of Third Parties) Act 1999 to enforce any term of the NDA. This ensures that only parties who enter into the agreement can claim rights under it.
In the sample agreement, the "Disclosing Party" is the person disclosing secrets, and the "Receiving Party" is the person who receives the confidential information and is obligated to keep it secret.
What is confidential to the third party is known to the third party alone. There may not be a rubber stamp upon the information that this is confidential information. It is right vested in the third party to treat any information 'relating to or supplied by the third party' as confidential.
Parties The parties to the confidentiality agreement will be the potential buyer and seller. It describes the buyer as the Receiving Party and the seller as the Disclosing Party. In case the buyer has few or no assets, then a guarantor may also be involved.