What is a proprietary clause?

What is a proprietary clause?

What is a Proprietary Information Agreement? A Proprietary Information Agreement is a legally binding contract that stipulates that a number of parties must not disclose confidential supplies, data, or information as outlined by the contract to a different third party.

What are examples of proprietary information?

Proprietary information is any information that deals with the activities, business or products of a company. More specifically, some things that commonly fall under this umbrella include trade secrets, financial data, product research and development, computer software, business processes and marketing strategies.

What does proprietary mean on a document?

Proprietary Documents means any documents of Seller which are confidential or proprietary in nature in that such documents contain trade secrets or other non-public information not customarily used by Seller in the ordinary course of operating the Business.

What is a proprietary property?

Proprietary Property . The term “Proprietary Property” is collectively and severally defined as any written or tangible property owned or used by Company in connection with Company’s business, whether or not such property also qualifies as Confidential Information.

What is proprietary copyright?

Proprietary Rights means all trade secret, patent, copyright, mask work and other intellectual property rights throughout the world.

What does proprietary mean in business?

1a : held as property of a private owner. b : of, relating to, or characteristic of a proprietor proprietary rights. 2 : used, made, or marketed by one having the exclusive legal right a proprietary process. 3 : privately owned and managed and run as a profit-making organization a proprietary insurer a proprietary …

Can you share proprietary information?

If you are sharing your business’s proprietary information with another party, such as your supplier, marketing agent, join venturer, etc., make sure that they execute a NDA as well. Ideally, you should not be sharing your proprietary information with anybody who has not executed a NDA.

What is proprietary in contract law?

Proprietary means a good or service that is used, produced, or marketed under exclusive legal right of the inventor, maker or service provider that is protected under trade secret, patent, trademark, or copyright law.

How do you mark a document as proprietary?

using a label, tag, or sticker when possible; otherwise enclose the items in appropriately marked envelopes; • Attorney-Client Privileged and/or Attorney Work Product markings should only be used at the direction of Company attorneys, or when requesting legal advice.

What is the difference between proprietary and property?

Property is something that belongs to you or something that you own. You are the proprietor of whatever it is. I bought that book from the shop so now it is my property.

What is the difference between property and propriety?

Property is a noun, which may be used as an adjective to indicate what kind of rights are involved. In the context of intellectual property, proprietary is an adjective meaning privately owned and not publicly available. (Propriety is the state of being proper, and is not related to property.

Does proprietary mean patented?

A proprietary patent refers to the protection of proprietary information. Proprietary information, in a broad sense, is something that is created and controlled by the same individual or company.

What is proprietary material?

Proprietary Materials means tangible chemical, biological or physical materials that are furnished by or on behalf of one Party to the other Party in connection with this Agreement, whether or not specifically designated as proprietary by the transferring Party.

What is another word for proprietary?

In this page you can discover 14 synonyms, antonyms, idiomatic expressions, and related words for proprietary, like: proprietory, restrictive, propietary, proprietorship, nonproprietary, software, anti-copy, intellectual property, patented, third party and patent pending.

What does proprietary ownership mean?

As a noun, a proprietor or owner; one who has the exclusive title to a thing; one who possesses or holds the title to a thing in his or her own right; one who possesses the dominion or ownership of a thing in his or her own right.

How can we protect proprietary?

To protect proprietary information that is stored on computer systems, a strong security policy must be in place. Regular employee training can prevent negligent data leaks. A managed IT service can assist with developing policies and technologies that can keep your information secure.

Is proprietary information protected?

In general, for information to be considered proprietary, companies must treat it as confidential. Courts will not treat information readily available in public sources as proprietary.

How does something become proprietary?

For information to be considered proprietary by a court, a company must treat the information as confidential. Courts will not find readily available information or public information proprietary. The information must also give the company a competitive advantage to be considered proprietary.

What does confidential and proprietary mean?

17. Proprietary and Confidential Information means any information of the Business that is not generally known to the public or to the Seller’s competitors in the industry, is used in the Business, and gives the Business an advantage over businesses that do not know the information.

What is proprietary right?

Proprietary rights, also known as property rights, are the theoretical or legal rights that an entity has to own property, whether tangible or intangible. Property rights are some of the most basic rights in a free society. They give individuals the right to accumulate, own, hold, delegate, rent, or sell their property.

What is a PIA agreement?

To explore this concept, consider the following proprietary information definition. Information that a company or other entity wishes to keep confidential. A proprietary information agreement (“PIA”) is a legal contract that specifies certain information and/or materials that the parties to the agreement are to keep secret or confidential.

What is a proprietary agreement?

What is a proprietary agreement? A Proprietary Information Agreement is a legally binding contract that stipulates that a number of parties must not disclose confidential supplies, data, or information as outlined by the contract to a different third party.

What is proprietary property?

Proprietary Property. “Proprietary Property” means the Marks, the “Work Product” (as hereinafter defined), the Confidential Information and the Trade Secrets, whether or not all or any portion thereof is or may be validly copyrighted, patented, or registered as a trademark or service mark.