Confidential Information Definition

Confidential Information Definition

Confidential information is any material, non-public or business-related information. It is confidential or private information in any way in an agreement between two or more parties, and the first party is (“the disclosing party”). The other party (s) is / they (“the receiving party”) the first party or his representative disclose this confidential information for business purposes between the two parties. It has been classified as confidential. It has been advised not to reveal it due to its special nature, which may be done directly or indirectly, and by any means of communication or observation.

The second party acknowledges that all confidential information is the first party’s property and that disclosing it to the second party does not give him any right to that information, and it was disclosed as it is without guarantees or other obligations. The second party is obligated not to use, use or exploit such confidential information for purposes other than the business purpose except with a written consent explicitly proven by the first party.

The second party is obligated to limit and restrict the confidential information disclosure to its employees and employees based on a need for knowledge and not divulge any confidential information to anyone, except for what is expressly stated in the agreement of the two parties. The second party is obligated to protect private, confidential information by using protection standards that are not less than the level of protection it uses to preserve its confidential information. It is obligated to protect, store and deal with it in a way that prevents its disclosure or unauthorized use.

There are some examples, but not limited to this information: trade secrets, program information, patent applications, modifications or improvements, signals, developments, enhancements and amendments to the rights of these patents, technical information, net sales or profits invoiced, cash, and quantity discounts, refunds of amounts paid or Allowable discounts, healthcare insurance amounts, parties involved in patient assistance programs or care institutions, pharmacies and benefit management companies, credits or allowances granted, retailers, insurance and freight charges and transportation costs (including, transportation, delivery, import or export), And any government tax, tariff, fee, or fee imposed on sales (including any value-added tax, similar tax, or government fees).

The purpose of confidentiality of this information is determined in the ordinary course of business based on accounting standards and practices continuously applied by the parties or institutions concerned with this confidentiality of information agreement.