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Confidentiality Agreement

Confidentiality Agreement regarding an Invention/Idea

 

The parties in this Agreement are:

the Inventor: Student company (SC) Spoony and the Recipient: …………………………………………………………………………….…

 

§ 1 Background

In connection with transmittal of Information at the disposal of the Recipient this Confidentiality Agreement is signed. The Information will be transmitted under the confidentiality conditions stated in the Confidentiality Agreement.

§ 2 Condition

It is crucial to the Recipient that the Information that will be transmitted to the Recipient is not distributed or made known to other persons without a written agreement from the Inventor.

 

§ 3 Confidentiality

Confidentiality is effective to the Information concerning materials transmitted in written or oral form about the Invention/Idea which is subject to confidentiality and which is described in Enclosure 1 attached to this Confidentiality Agreement.

 

Confidentiality is effective for such Information from the date that the Information has come into safe custody of or become known to the Recipient to a maximum of five years or until a patent or design application concerning the Information has been published.

 

Details of the Information which is available in the pubic domain or which has been lawfully obtained from a third party shall however not be classified as confidential.

§ 4 Handling

Material classified as confidential shall be marked confidential and stored in such a way that confidentiality is secured.

 

If, for certain reason, a third party shall be informed of the Information or parts thereof, classified as confidential, the Recipient shall immediately contact the Inventor to ascertain the Recipient’s opinion before making a decision whether or not to make available the requested Information or part thereof. Such information can only be transmitted to a third party after a written agreement from the Inventor. The Inventor decides independently whether or not to make available the Information or part thereof to the third party.

 

§ 5 Liability

Should information be handled in contravention with this Confidentiality Agreement, and should this make the Recipient liable to pay damages, then Recipient’s liability to pay damages, provided this has not been caused intentionally or through gross negligence, is limited to an amount corresponding to 250 000 EUR.

 

The Recipient has no responsibility for information or material that is required to be made available according to current legislation or pursuant to the decision of a court or other authority.

§ 6 Term of the Agreement

The Confidentiality Agreement applies from the signing of the Confidentiality Agreement and for the duration of the confidentiality period applicable under paragraph 3 above.

§ 7 Governing law and disputes

Estonian law shall govern this Confidentiality Agreement. Any disputes with regard to this Confidentiality Agreement shall be settled in an ordinary court of law.

 

This Confidentiality Agreement is drafted in two originals, one for each party.

Place and date: Tallinn, Estonia                               Place and date: …………………

 

18.01.2016                                                              …………………………………..

 

 

 

Spoony SC                                                               …………………………………..

Inventor                                                                   Recipient

 

Christopher Roosla                                                  …………………………………..

Name of signatory                                                   Name of signatory