The Proprietary Information Exchange Agreement is essential for businesses operating in the Philippines who need to share sensitive information while ensuring legal protection. This document becomes necessary when parties need to exchange confidential information during business discussions, joint ventures, potential partnerships, or other collaborative arrangements. It specifically addresses requirements under Philippine law, including the Data Privacy Act of 2012, the Intellectual Property Code, and relevant provisions of the Civil Code. The agreement typically covers various types of proprietary information such as trade secrets, technical data, business strategies, customer information, and other confidential material. It's particularly important in the Philippine context where intellectual property protection and data privacy compliance are increasingly scrutinized.
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1. Parties: Identification of all parties to the agreement, including full legal names and addresses
2. Background: Context of the agreement and the parties' intentions to share proprietary information
3. Definitions: Detailed definitions of key terms, especially 'Confidential Information', 'Proprietary Information', 'Authorized Recipients', etc.
4. Scope of Confidential Information: Detailed description of what constitutes proprietary/confidential information under the agreement
5. Obligations of Receiving Party: Specific duties and responsibilities regarding the handling and protection of confidential information
6. Permitted Disclosures: Circumstances under which confidential information may be shared with third parties
7. Security Measures: Required security protocols and measures for protecting confidential information
8. Return or Destruction of Information: Procedures for returning or destroying confidential information upon termination or request
9. Term and Termination: Duration of the agreement and conditions for termination
10. Survival of Obligations: Obligations that continue after the agreement's termination
11. Remedies for Breach: Legal remedies available in case of breach, including injunctive relief
12. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction for disputes
13. General Provisions: Standard clauses including severability, amendments, and entire agreement
1. Data Privacy Compliance: Specific provisions for compliance with the Data Privacy Act when personal data is involved
2. Electronic Information Exchange: Special provisions for electronic transmission and storage of confidential information
3. Third Party Rights: Provisions regarding the rights of third parties who may own or have interest in the confidential information
4. Export Control: Provisions for international transfer of information subject to export control laws
5. Competitive Restrictions: Non-compete or non-solicitation provisions, if relevant
6. Insurance Requirements: Obligations to maintain specific insurance coverage for data protection
7. Audit Rights: Rights to audit the receiving party's compliance with security measures
1. Schedule A - Description of Proprietary Information: Detailed listing and categorization of specific proprietary information covered
2. Schedule B - Authorized Recipients: List of individuals or roles authorized to access the confidential information
3. Schedule C - Security Protocols: Detailed security measures and protocols to be followed
4. Schedule D - Data Processing Requirements: Specific requirements for processing any personal or sensitive data
5. Appendix 1 - Notice Requirements: Contact details and procedures for required notices under the agreement
6. Appendix 2 - Return/Destruction Certificate: Template certificate confirming return or destruction of confidential information
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