Common use of Disclosure and Acknowledgment Clause in Contracts

Disclosure and Acknowledgment. 2.1 The parties acknowledge that, from time to time during the term of the License Agreement between LICENSOR and LICENSEE, it may be necessary for CONFIDENTIAL INFORMATION to be disclosed by LICENSOR to LICENSEE and from LICENSOR or LICENSEE to DISCLOSEE. The parties acknowledge the provisions of this Agreement are necessary to protect the confidentiality, value, and secrecy of LICENSOR's CONFIDENTIAL INFORMATION concerning the LICENSED TECHNOLOGY and to protect LICENSOR's patent and ownership rights to the LICENSED TECHNOLOGY. 2.2 Nothing in this Agreement shall be construed as conferring upon DISCLOSEE by implication, estoppel, or otherwise any right, title or interest in, or any license under, any LICENSED TECHNOLOGY, INTELLECTUAL PROPERTY, patent or trade secret now or subsequently owned by LICENSOR. 2.3 DISCLOSEE agrees to take all precautions reasonably necessary to maintain the confidential nature of the CONFIDENTIAL INFORMATION disclosed to him or her by LICENSOR or LICENSEE or otherwise obtained by him or her in connection with any dealings with LICENSOR or LICENSEE.