Proprietary Meaning in Legal Term

OWNER. In a narrower sense, this word refers to someone who is master of his actions and freely disposes of his property. During the colonial government of Pennsylvania, William Penn was credited as the owner. 2. The property which William Penn and his family owned in the State was separated from that family during the War of Independence by the Act of 28 June 1779 and transferred to the Commonwealth for the sum paid to them of one hundred and thirty thousand pounds sterling. Local authorities must act in the best interests of citizens. This is a proprietary feature. This exclusive function is distinct from its governmental functions, which are duties that result from being a political part of a state. “Confidential Information” means information, whether or not derived from the employee, relating to the business or affairs of the Company, its affiliates, customers or suppliers and which is confidential or proprietary, in respect of which the Company, its affiliates, customers or suppliers have been created. I agree that information may be proprietary and non-confidential or confidential and non-proprietary. The provision should focus on the confidentiality of information and not on intellectual property rights. That annoys me.

I see a lot of non-disclosure agreements. A typical definition of information protected by such an agreement includes the notion that the information is “confidential or proprietary.” The “owner” part just seems wrong to me. What happens if the information is held? A company`s website is owned by a company, but should not be protected as “confidential information” under a non-disclosure agreement. A common mistake is to exclude from the defined term information that must be submitted to government agencies or as part of a subpoena. These should constitute an exception to the agreement prohibiting disclosure to third parties. The fact that information must be submitted to the authorities (possibly with companies for confidential treatment) should not completely remove such information from the defined term and exempt the recipient from otherwise restricting its disclosure and use. Please do not use the “public domain” in this way (or not at all in your NDA). The public domain has a special meaning that almost never has anything to do with triggering an exception to the definition of confidential information. It is a copyright term. Say something like “publicly available.” Otherwise, your exception only applies if the information is no longer protected by copyright (which would likely be 70 years after the author`s death). A proprietary process is a manufacturing process that others are not allowed to use, and a protected trademark is a name that only the owner can use. Legal rights of this type are guaranteed by copyright and patents.

After a while, inventions and processes lose their legal protection, lose their ownership and fall into the “public domain” so that everyone can use them freely. Baseball fans often take an exclusive stance toward their favorite team — that is, they behave more or less as if they own it, even though the only thing they can own is the right to shout from a grandstand seat until the end of a game. Because of the value and importance of such ownership, companies often prohibit directors, employees, and agents from disclosing confidential or proprietary information without proper authorization in agreements/non-disclosure clauses. Sometimes this prohibition extends even after the end of the employment relationship. You can try not to do it publicly. (Yes, there shouldn`t be a hyphen, but it`s tedious every time you create a defined term.) Instead of being too broad, this approach may be too narrow. A disclosing party could potentially disclose information that is not proprietary, but is still information that it wishes to keep confidential, such as information disclosed to it under an NDA. Legally, what is proprietary often refers to proprietary information. Proprietary information is important and potentially sensitive information that a company holds. This information usually gives the company a competitive advantage in its market. What is property refers to ownership and the rights that an owner can exercise with respect to his property or information.3 min spent reading Black`s Law Dictionary defines property as “1.

by or relating to an owner {the licensee`s proprietary rights}. 2. From, in connection with, or as property {the software developer has attempted to protect its proprietary data}. Second, it is used in definitions that include confidential or proprietary information: when a contractor is hired and receives proprietary information to do their job, a company often asks them to return the information or property and keep the information confidential. A business has several ways to keep its information proprietary: Owner refers to property: things that belong to individuals or companies. People talk about proprietary drugs, proprietary software, and other things that can only be made and sold by those who discovered or created them. A claim of ownership is usually protected by a trademark or copyright. When you say you own something, you`re telling everyone, “Don`t touch! It`s mine. Years ago, owners of small family shops were known as owners.

So my default mode would be to omit ownership of a sensitive information definition. I`ve really never understood why one insists on using property in a definition of CI or why others insist on including a long list of information that could be confidential (i.e. files, documents, software, etc.). The protection of these protected objects is ensured by intellectual property law: copyright, patents, trademarks, etc. Unfortunately, exclusive articles and processes will eventually lose their legal protection. That`s when the information becomes part of the audience. Once this happens, anyone can use the item, process, or brand as they see fit. “Confidential Information” means information provided to a Buyer by or on behalf of the Company or any subsidiary in connection with transactions contemplated by or otherwise under any of the Loan Documents, which is protected by copyright and which has been clearly marked or marked or otherwise reasonably identified as confidential information of the Company or such affiliate.