The Proprietary Information Agreement is a critical legal instrument used when parties need to share confidential or sensitive information while ensuring its protection and controlled use. This document becomes necessary during business negotiations, due diligence processes, joint ventures, service engagements, or any situation requiring the disclosure of trade secrets, technical know-how, or other proprietary information. Under Danish law, the agreement must comply with the Danish Trade Secrets Act and related legislation, while also considering EU regulations where applicable. It is designed to create legally binding obligations for the receiving party to maintain confidentiality, restrict use to permitted purposes, and implement appropriate security measures. The agreement typically includes both standard confidentiality provisions and can be customized with specific requirements based on the nature of the information being shared and the business relationship between the parties.
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Key Requirements PROMPT example:
Proprietary Information Agreement
I need a Proprietary Information Agreement governed by Danish law for sharing technical manufacturing processes with a potential joint venture partner from Germany, with special emphasis on protecting our engineering drawings and manufacturing know-how.
1. Parties: Identification of the disclosing and receiving parties, including full legal names and registration details
2. Background: Context of the agreement and purpose for sharing confidential information
3. Definitions: Clear definitions of key terms, especially 'Confidential Information', 'Representatives', and 'Permitted Purpose'
4. Scope of Confidential Information: Detailed description of what constitutes confidential information under the agreement
5. Obligations of Confidentiality: Core confidentiality obligations, including duty of care and prohibited uses
6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including to representatives and by legal requirement
7. Protection Measures: Specific security measures required to protect confidential information
8. Return or Destruction: Requirements for handling confidential information upon termination or request
9. Term and Termination: Duration of the agreement and termination provisions
10. Breach and Remedies: Consequences of breach and available remedies including injunctive relief
11. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for disputes
12. Entire Agreement: Standard boilerplate confirming this as the complete agreement between parties
1. Reverse Engineering: Specific prohibitions on reverse engineering, used when technical information or software is involved
2. Data Protection Compliance: Specific GDPR compliance provisions, required when confidential information includes personal data
3. Non-Competition: Restrictions on competitive activities, used when sharing particularly sensitive business information
4. Residual Knowledge: Provisions addressing use of retained knowledge, important for consulting or technical relationships
5. Export Control: Compliance with export control laws, needed when information may be subject to international transfer restrictions
6. Insurance Requirements: Specific insurance obligations, useful for high-value or high-risk information sharing
7. Audit Rights: Right to audit compliance with agreement, important for regulated industries or highly sensitive information
1. Description of Confidential Information: Detailed list or categories of confidential information covered
2. Authorized Representatives: List of individuals or roles authorized to receive confidential information
3. Security Protocols: Specific technical and organizational security measures required
4. Approved Purposes: Detailed description of permitted uses of the confidential information
5. Notice Requirements: Contact details and procedures for required notices under the agreement
Authors
Relevant legal definitions
Clauses
Relevant Industries
Technology
Healthcare
Manufacturing
Financial Services
Professional Services
Research & Development
Pharmaceuticals
Biotechnology
Energy
Telecommunications
Retail
Education
Defense
Automotive
Consumer Goods
Relevant Teams
Legal
Compliance
Research and Development
Business Development
Procurement
Human Resources
Information Technology
Operations
Finance
Executive Leadership
Information Security
Corporate Development
Innovation
Relevant Roles
Chief Executive Officer
Chief Legal Officer
Legal Counsel
Business Development Manager
Research Director
Project Manager
Technology Officer
Procurement Manager
Human Resources Director
Operations Manager
Investment Manager
Partnership Manager
Compliance Officer
Innovation Director
Contract Manager
Information Security Officer
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