Description
The purpose of this contract, of which there are a great many variations and which can also be called a confidentiality agreement, is to afford both parties to the agreement, who are both owners of proprietary and confidential information some protection in circumstances where each party must disclose such information to the other party for some purpose. Typical examples include disclosure of software or new applications (“Apps”) by one party so that the other party can evaluate whether it will operate with their system, device, network or website; or if one party is the owner of an idea or invention which it needs to disclose to the other in order for that other party perhaps to advise on the performance of the same with the other party’s products or business or to produce a sample or prototype product; or the information may need to be disclosed merely to evaluate the product either before it is released on the market or for the purposes of undertaking to provide support services for the product.
There are literally hundreds of examples that can be given, but in each case both parties are disclosing for this particular contract to be applicable. Where only one party needs to disclose confidential information, see Contract 48.
