Mutual Confidentiality Contract Clause
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Confidentiality
Each party ("Disclosing Party") may disclose to the other party ("Receiving Party") certain confidential technical and business information which the Disclosing Party desires the Receiving Party to treat as confidential.
"Confidential Information" means any information disclosed by either party to the other party, either directly or indirectly, in writing, orally or by inspection of tangible objects, which is designated as "Confidential," "Proprietary" or some similar designation, or that reasonably should be understood to be confidential given the nature of the information and the circumstances of disclosure.
The Receiving Party shall not use any Confidential Information of the Disclosing Party for any purpose outside the scope of this Agreement, and shall not disclose the Confidential Information to any third party.
The Receiving Party shall take reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of the Confidential Information, including, without limitation, using at least a reasonable degree of care.
The Receiving Party shall promptly notify the Disclosing Party in the event of any unauthorized use or disclosure of the Confidential Information.
The obligations of confidentiality shall survive termination of this Agreement.
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