My question involves business law in the state of: NY
Assume company X enters into an agreement with data/research company Y to conduct some proprietary research or collect some valuable data. Assume there's a confidentiality & exclusivity clause in the original agreement where company Y agrees to not re-sell/distribute any data or findings relating to the project during the performance period including a section declaring that company X shall be the sole owner of any data acquired for it in the scope of the project.
Assume that a few months after the performance period is over company X runs into serious financial trouble and has not paid any of company Y's invoices for any of its data/research services.
Given that company X breached their financial obligation to company Y, does company Y still have the obligation to keep any data/research conducted for company X confidential? Does company X technically "own" the data acquired by company Y if it has not paid company Y anything for it?
Now assume another company "Z" comes along and wants to buy the dataset company Y created for company X. Can company Y sell it to company Z if company X breached its contract by non-payment? Or must company Y continue to retain the data as confidential for company X in spite of the breach on company X's part?
I'd appreciate any insight on how confidentiality clauses work in cases where one party has breached their side of the agreement/non-payment.
Thanks!
Assume company X enters into an agreement with data/research company Y to conduct some proprietary research or collect some valuable data. Assume there's a confidentiality & exclusivity clause in the original agreement where company Y agrees to not re-sell/distribute any data or findings relating to the project during the performance period including a section declaring that company X shall be the sole owner of any data acquired for it in the scope of the project.
Assume that a few months after the performance period is over company X runs into serious financial trouble and has not paid any of company Y's invoices for any of its data/research services.
Given that company X breached their financial obligation to company Y, does company Y still have the obligation to keep any data/research conducted for company X confidential? Does company X technically "own" the data acquired by company Y if it has not paid company Y anything for it?
Now assume another company "Z" comes along and wants to buy the dataset company Y created for company X. Can company Y sell it to company Z if company X breached its contract by non-payment? Or must company Y continue to retain the data as confidential for company X in spite of the breach on company X's part?
I'd appreciate any insight on how confidentiality clauses work in cases where one party has breached their side of the agreement/non-payment.
Thanks!
Contract Law: Does a Company Have Legal Ownership Rights to Data That It Neglected to Pay for
Aucun commentaire:
Enregistrer un commentaire