Do contract confidentiality/prorietary requirements leave you confused?

Jul 12, 2017Contract Tips

Q: When the contract requires protection of confidential/proprietary information, what information may NOT fall into that category?

A: Keeping in mind that this is not an all-inclusive list, following are some examples of information that may NOT be truly confidential or proprietary.

  • Information that was known to you previously but not protected as confidential
  • Information that is in the public domain
  • Information that you may be legally or ethically obligated to disclose
  • Information that needs to be shared with subconsultants or your own employees
  • information that you have a right to retain as part of your project records

To learn about our Insurance Offerings and our Risk Management program, visit our website or Contact us today at 713-552-1900. Be sure to have a lawyer or licensed Risk Manager review your contracts for insurability and other risk implications.

So what might be considered confidential/proprietary?

According to www.contractstandards.com“Confidential Information” means material, non-public, business-related information, written or oral, whether or not it is marked as confidential, that is disclosed or made available to the recipient, directly or indirectly, through any means of communication or observation by the disclosing party or any of its Affiliates or Representatives.

Proprietary Information is information that is not public knowledge (such as certain financial data, test results or trade secrets) and that is viewed as the property of the holder.

The recipient of proprietary information, such as a contractor in the procurement process, is generally duty bound tom refrain from making unauthorized use of the information.

Be sure to have a lawyer or licensed Risk Manager review your contracts for insurability, confidential/proprietary requirements  and other risk implications.

Gears and Confidential Mechanism on Whiteboard

Did you know Risk Specialty Group offers free contract reviews?

When you become a client of Risk Specialty Group, one of our free services is to help review your contracts for insurability and other risk implications with our licensed Risk Manager.  We will walk you through any potential risks before you sign a contract and address any concerns or potential exposures.  Visit our website to learn more about our Risk Management program.