Generational Equity News Article

(I-Newswire) December 5, 2009 - Generational Equity - Generational Equity
# Term. The term provision of a confidentiality agreement can be extremely important. The term must be long enough to protect the interests of the Disclosing party. Nonetheless, the term should not unduly burden the Recipient. Example term provisions would have the agreement last one or five years. Alternatively, the agreement could last indefinitely, as is shown in the example contract.
# Other Provisions. Other provisions that are commonly found in confidentiality agreements include:

* a provision allowing the remainder of an agreement to stay in effect even if a portion of the agreement is found to be unenforceable,
* a provision stating that the agreement is binding on heirs and assigns,
* a provision calling for a return of confidential materials after use by Recipient,
* a provision stating that the Discloser has the right to receive an injunction from a court if the agreement is breached,
* a provision specifically specifying that the Discloser owns all confidential information,
* a provision specifying that disputes should be arbitrated, and
* a provision governing the controlling law for the contract.

No License.

Nothing contained herein shall be construed as granting or conferring any rights by license or otherwise in any Confidential Information. It is understood and agreed that neither party solicits any change in the organization, business practice, service or products of the other party, and that the disclosure of Confidential Information shall not be construed as evidencing any intent by a party to purchase any products or services of the other party nor as an encouragement to expend funds in development or research efforts. Confidential Information may pertain to prospective or unannounced products. Recipient agrees not to use any Confidential Information as a basis upon which to develop or have a third party develop a competing or similar product.

Generational Equity Confidentiality CONFIDENTIALITY AGREEMENT

This Confidentiality Agreement ("Agreement") is made and effective the [Date] by and between [Owner] ("Owner") and [Recipient] ("Recipient").

Confidential Information.

Owner proposes to disclose certain of its confidential and proprietary information (the "Confidential Information") to Recipient. Confidential Information shall include all data, materials, products, technology, computer programs, specifications, manuals, business plans, software, marketing plans, financial information, and other information disclosed or submitted, orally, in writing, or by any other media, to Recipient by Owner. Confidential Information disclosed orally shall be identified as such within five (5) days of disclosure. Nothing herein shall require Owner to disclose any of its information.

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Mutual confidentiality agreements are useful when both parties will be conveying confidential information, such as for inventor groups. Unilateral confidentiality agreements, which are probably most common in the inventing arena, are used when only one party is turning over confidential information, perhaps to a potential investor or prospective licensee.


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