Common use of Background Intellectual Property and Project Clause in Contracts

Background Intellectual Property and Project. Intellectual Property of a Party, as well as other proprietary or confidential information of a Party, which is disclosed by that Party to the other Party in direct connection with the performance of this Project shall be received and held in confidence by the receiving Party and, except with the consent of the disclosing Party or as otherwise permitted under this Agreement or the Subaward, shall be neither used by the receiving Party nor disclosed by the receiving Party to others, provided that such information is marked or otherwise identified in writing as “confidential” or “proprietary” by the disclosing Party at the time of disclosure. Oral disclosure of such information will be reduced to writing by the disclosing Party, marked as “confidential” or “proprietary”, and delivered to the receiving Party within thirty (30) days. This obligation of confidentiality will continue in effect for three (3) years after its disclosure under this Agreement.