Agreement to Hold Secret and Confidential Template

The below described invention, idea, or concept (hereinafter referred to as INVENTION) is being submitted to _______________ of _______________ (hereinafter referred to as COMPANY) by _______________ of _______________ on __________, 20_____, (hereinafter referred to as INVENTOR) who is the inventor of record. The undersigned, in consideration of examining said INVENTION, with a purpose to opening negotiations to obtain a license to manufacture and sell said INVENTION, hereby agrees on behalf of himself/herself and said COMPANY that he/she represents, that:
1) He/she (during or after the termination of employment with said COMPANY) and said COMPANY, will keep said INVENTION, and any information pertaining to it, in confidence.
2) He/she will not disclose said INVENTION or data related thereto to anyone except for employees of said COMPANY, sufficient information about said INVENTION to enable said COMPANY to continue with negotiations for said license, and that anyone in said COMPANY to whom said INVENTION is revealed shall be informed of the confidential nature of the disclosure and shall agree to hold confidential the information and be bound by the terms hereof, to the same extent as if they had signed this Agreement.
3) Neither he/she nor said COMPANY shall use any of the information provided to produce said INVENTION until agreement is reached with INVENTOR.
4) He/she has the authority to make this Agreement on behalf of said COMPANY.
It is understood, nevertheless, that the undersigned and said COMPANY shall not be prevented by the Agreement from selling any product heretofore sold by said COMPANY, or any product in the development or planning stage, as of the date first above written, or any product disclosed in any heretofore issued U.S. Letters Patent or otherwise known to the general public.
The terms of the preceding section releasing, under certain conditions, the obligation to hold the disclosure in confidence does not, however, constitute a waiver of any patent, copyright, or other rights which said Inventor or any licensee thereof may have against the undersigned or said COMPANY.
IN WITNESS WHEREOF, the parties have signed this Agreement on the respective dates hereinafter written.
The INVENTION is generally described as follows:
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