Wtu

WTU and Recipient hereby agree as follows: This confidentiality agreement is entered into as of _______________ (date), by and between WTU, and __________________________________ (recipient organization name), which together with its subsidiaries and affiliates, shall individually and collectively be referred to hereinafter as the Recipient. 1. WTU... created and is the Owner and developer of an idea for a new product (hereinafter referred to as the System). By disclosing this information, WTU grants Recipient no license or right, by implication or otherwise, to use this information for any purpose other than the specific business purposes of WTU as found in written agreement(s) to be separately negotiated. 2. Recipient acknowledges that the System and all related documentation, including but not limited to descriptions of the System or its component parts, all product mock-ups, product prototypes, product samples, product technical specifications, product input data, product-related know-how, product-related new and different ideas, product technology, all or any of which may be derived from any of the foregoing (all of which, individually and collectively, shall hereinafter be referred to as the Proprietary Information) are valuable, confidential, and proprietary to WTU. 3. WTU and Recipient wish to discuss mutually beneficial business arrangements and relationships that in some way concern, or are related to the System. Recipient acknowledges that disclosure of this information constitutes consideration for this agreement because it wishes to pursue the opportunity of business dealings with WTU. Recipient agrees not to use Proprietary Information for its own use or for any other purpose except to evaluate whether it desires to enter into a business relationship with WTU, or as necessary, to carry on such a relationship. Recipient furthermore agrees to manage all of its workers who come into contact with Proprietary Information such that the obligations and duties described in this agreement will be strictly ...Read More