4.1Definition of Confidential Information. Confidential Information means any technical or commercial information provided to the Consultant under this Agreement by or on behalf of Agenus or developed by the Consultant in connection with the provision of the Services, whether such Confidential Information is in oral, electronic or written form. Such confidential information may include, but is not limited to, trade secrets, know-how, inventions, technical data or specifications, test methods, commercial or financial information, research and development activities, product and marketing plans, and customer and supplier information. If you are the receiving party, you will receive confidential information from another party. It may very well be that the relationship ends. It can become sour, or you can simply move on to other relationships. Companies usually do a good job of keeping customer information private, but this doesn`t always apply to employee information. As an employer, if you want your employees to value customer and customer information, you need to take the same consideration for employee information. b.i) Definition of confidential information. Anything a company considers its proprietary confidential, treats it as confidential and prevents access by others can be protected by a trade secret. 5.1 Definition of Confidential Information. “Confidential Information” means (a) all technical and non-technical information relating to the Company`s business and the Company`s current, future and offered products and services, including, without limitation, the Company`s innovations, the Company`s property (as defined in Section 6 (“Ownership and Return of Confidential Information and Company Property”)) and company information in connection with: Research, development, design details and specifications, financial information, procurement requirements, engineering and manufacturing information, customer lists, business forecasts, business information and marketing plans, and (b) any information that may be disclosed to the consultant and that the Company has received from other persons that the Company shall treat as confidential or proprietary.
Confidential information often derives its value from its ability to be used for specific purposes in a company. Employees in different parts of a company should be aware of the proper handling and protection of confidential company and third-party information. A confidentiality agreement does not determine intellectual property. Non-disclosure agreements should be used to protect information at the stage at which companies decide whether or not to enter into a business relationship with another company. Since a non-disclosure agreement does not determine intellectual property, no actual work (. B development work) must only be carried out under a non-disclosure agreement. Such work should only be carried out after a final agreement on intellectual property had been reached. Not all leaks of confidential information are intentional. That`s why it`s important to train your employees to recognize sensitive information. You also need to know what constitutes a breach of confidentiality.
Emphasize the importance of protecting this information from unauthorized personnel. The consequences of violating this confidentiality could include dismissal depending on the seriousness of the violation. Employees should also refrain from discussing customers` affairs outside of work. It may be necessary to think about this. Consideration is a legal term that refers to the “thing of value” that passes between the parties to a contract. In the case of a candidate, the acquisition of the position may be considered an appropriate consideration. If the employee has worked on a project and you decide that the employee`s research or work is confidential, job retention or a bonus of any kind may be considered. If you want your relationships with your customers, customers, and employees to be characterized by trust, you need to respect privacy in your workplace. .