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
Q: What is considered proprietary information?
According to Inc.,proprietary information, also known as a trade secret, is information a company wishes to keep confidential. Proprietary information can include secret formulas, processes, and methods used in production.
Q: Does Risk Specialty Group review contracts?
A: Yes, the Risk Specialty Group can review your contracts and help you navigate risk from an insurance standpoint, but always be sure to review your contract with a knowledgeable attorney.
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.