7. Technology - This refers to all technical and scientific information and materials produced from formulation made by the Disclosing Party and by which information has not been publicly used, including to use of any machine, appliance, or components, including the documented scientific process.
8. Accounting Information - This includes all financial reports, worksheets, balance sheets, undisclosed assets and liabilities, inventories, payroll, and any other information that may relate to a financial activity and by which information is not disclosed or that such disclosure has not been consented by the Disclosing Party.
Confidential Information may likewise include any information disclosed by any party to the Disclosing Party that is protected by a non-disclosure agreement and by which has been accidentally, incidentally, or acquired by the Receiving Party whether directly or indirectly.
II. Obligations.
The Receiving Party, upon acquiring the confidential information shall hold in trust and confidence the information possessed by said party and shall not disclose it to any other party or use it for its own benefit or any other without the consent of the Disclosing Party.
The Receiving Party may not disassemble, decompile, or reverse engineer products, prototypes, source codes, software, or any other objects that have been shared or provided for by Disclosing Party's that may contain Confidential Information and that are provided to the Receiving Party for purposes under this agreement.
The Receiving Party shall not likewise make copies, of said information unless consent has been given by the Disclosing Party.
This clause shall survive and continue during and after the expiration or termination of this Agreement.
III. Exclusions From Confidential Information.
The Receiving Party shall not need the consent of the Disclosing Party to share, disclose, or copy the Confidential Information in cases where:
1. The Confidential Information, at the time of disclosure, such information is already publicly known;
2. Information received by the Receiving Party has already been known by the Receiving Party prior to its disclosure;
3. The Confidential Information has been obtained by Receiving Party rightfully from any other party other than the Disclosing Party and without reason to believe that the third party is under any obligation or has an agreement with the Disclosing Party;
4. The Confidential Information was developed by Recipient without reference or dependence to the Disclosing Party's Confidential Information.
IV. Non-Compete.
During the effectivity and within one (1) year after the termination of this agreement (by either Party), the Receiving Party understands and agrees to not be involved directly or indirectly, in activities that are in competition with the Disclosing Party.
To further clarify, the Receiving Party is not permitted to work for or promote, with or without compensation and company that is a direct competitors of Pretty, LLC. The Receiving Party must seek advance approval from a representative of Pretty, LLC before accepting any position or before participating in community, charitable and business activities that may or are likely to lead to a conflict of
interest.