Common use of Company Confidential Information Clause in Contracts

Company Confidential Information. University will safeguard Company Confidential Information (see definition below) with the same standard of care that University safeguards its own confidential information of similar value but no less than a reasonable standard of care. The term “Company Confidential Information” means all information and tangible materials that Company safeguards from disclosure outside of Company that is marked “Confidential” or, if orally disclosed, confirmed at the time of disclosure that it is confidential and confirmed in writing to the recipient within thirty (30) days of disclosure. Said Company Confidential Information will be held in confidence for a period of two (2) years after the date of disclosure. However, Company Confidential Information shall not include any information that (i) the University can show by reasonable documentary evidence was already in University’s lawful possession at the time of disclosure by Company, (ii) is or later becomes, through no act on the part of University, generally available to the public, (iii) was disclosed to University by an individual who at the time of disclosure had no duty of confidentiality to Company, or (iv) is subject to disclosure under operation of law.