Confidentiality Club Agreement
“In today`s globalized world of globalization, where competition is at its peak, organizations are likely not to be inclined to disclose trade secrets/confidential agreements or their details, they have met with different parties so as not to seriously harm these parties because of competition. A trade secret can make or break a business, so it must be protected. Once such disclosure is made or misappropriated by a competitor, no court decision can prevent the company from losing it or returning it to its original position. The need for “confidentiality clubs” necessarily arises in cases of patent infringement and trade secrecy, in which the final decision of the dispute depends on the assessment of the evidence provided by the disclosing party, which is confidential in nature and which may confer an unfair competitive advantage on the receiving party. This confidential information may extend to manufacturing processes, formulas and source code, sensitive commercial price information and agreements with licensees, etc. As the above is apparent.b the purpose of creating a confidentiality club, the purpose is to ensure that a party`s trade secrets and other confidential information are not disclosed to its competitors, but rather to its competitors. iv. Members may view the documents in the presence of the Chancellor General and cannot make any copies of them. They are also prevented from disclosing information and/or documents disclosed within the confidentiality club; As a general rule, legal proceedings are conducted in open court and access to documents, information and evidence is granted to all litigants and their lawyers. An exception to this rule is a “confidentiality club” created in cases where the parties to the proceedings exchange confidential and economically sensitive information. As a general rule, confidentiality clubs are created either by an agreement between the litigants or by a decision of the Court of Justice, in order to restrict access to confidential documents and information to certain persons designated on the basis of their obligation of confidentiality.