Common use of Treatment of Proprietary Information Clause in Contracts

Treatment of Proprietary Information. The parties agrees to hold all Proprietary Information of the other in trust and confidence for the other and not to use the same other than as expressly authorized under and to carry out the purposes of this Agreement. The receiving party shall not duplicate all or any part of the disclosing party's Proprietary Information, except in accordance with the terms and conditions of this Agreement. Each party shall have an appropriate agreement with each of its employees and contractors having access to the other party's Proprietary Information sufficient to enable that party to comply with all the terms of this Agreement. Each party agrees to protect the other party's Proprietary Information with the same standard of care and procedures which it uses to protect its own trade secrets and confidential or proprietary information of like importance and, in any event, shall adopt or maintain procedures reasonably calculated to protect such Proprietary Information.