Kentucky Confidentiality Agreement Between Consultant and Owner of Lease

State:
Multi-State
Control #:
US-OG-195
Format:
Word; 
Rich Text
Instant download

Description

This form is used when the owner of an oil and gas lease, hires a Consultant to evaluate the leases for sale to a third party. It is the purpose of this Agreement to guarantee that the Proprietary Information furnished by Owner to Consultant shall remain confidential.
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FAQ

?Confidential Information? means any non-public information that relates to the actual or anticipated business and/or products, research or development of the Company, its affiliates or subsidiaries, or to the Company's, its affiliates' or subsidiaries' technical data, trade secrets, or know-how, including, but not ...

Related to Confidentiality Obligations of Consultant Confidentiality Obligations During the Term and at all times thereafter, neither party shall disclose Confidential Information of the other party or use such Confidential Information for any purpose without the prior written consent of such other party.

A typical confidentiality clause might say, "The phrases and circumstances of this Agreement are completely confidential between the parties and shall not be disclosed to anybody else. Any disclosure in violation shall be deemed a breach of this Agreement."

NDAs, or non-disclosure agreements, are legally enforceable contracts that create a confidential relationship between a person who has sensitive information and a person who will gain access to that information. A confidential relationship means one or both parties has a duty not to share that information.

The agreement should identify the purpose to which the recipient can put the confidential information. All other uses of the confidential information should be prohibited. Sometimes a confidentiality agreement states that no rights are licensed by the confidentiality agreement. This is stating the obvious.

Consultant shall hold confidential and proprietary information of third parties gained in the course of Company's business in the strictest confidence and shall not disclose it to any person, firm or company (except as to carry out the Company's business as consistent with Company's agreement with such third party) or ...

A confidentiality agreement should include a clear definition of the confidential information, scope of the agreement, obligations of the receiving party, the duration of the contract, any exceptions to confidentiality, and the consequences of a breach of the contract.

Consultants often work with sensitive information, such as trade secrets, financial information, and client lists. Unsurprisingly, consultants are typically required to sign non-disclosure agreements (NDAs) that prevent them from disclosing confidential information.

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Kentucky Confidentiality Agreement Between Consultant and Owner of Lease