Confidentiality contract for new products
This confidentiality contract is envisioned for use when a person or company (Disclosing Party) which has developed a new product (device, machine, software etc)., contacts a company for the purposes of evaluating its commercial viability and assessing a potential collaboration contract to launch this new product onto the market. To that end, during the assessment process there is a need to protect the confidential information that the Disclosing Party furnishes to his/her potential partner. Ensuing from the product description, the contract stipulates as to what the concept of confidential information includes, as well as the processing which should be given thereto by the managers and employees of the recipient company of the information. Said information includes all the information whose unauthorised disclosure may be detrimental to the interests of the Disclosing Party. Insofar as possible compensation for breach of Contract is concerned, given that it is difficult to quantify the amount thereof, ensuing from that which is stipulated in the contract is that the Disclosing Party shall be entitled to request a specific amount from a Court of its jurisdiction which seems reasonable to the former, as well as precautionary measures that prohibit the disclosure of Confidential Information. Model of Confidentiality Contract for new products.