III. Business Confidential Information

1. In the event that information identified in a timely fashion as business-confidential is furnished or created under the Agreement, each Party and its cooperating organizations shall protect such information in accordance with the laws and other statutory Acts of their State. Information may be identified as business confidential if a person having the information may derive an economic benefit from it or may obtain a competitive advantage over those who do not have it, and if the information is not generally known or publicly available from other sources, and the owner has not previously made the information available to a third person without imposing in a timely manner an obligation to keep it confidential.

2. The Parties or cooperating organizations may transmit business confidential information to their own personnel, unless otherwise provided for in separate agreements. Such information may be passed on to the contractors and sub-contractors within the limits of the scope of application of agreements concluded with them. Information transmitted in this way may be used only within the scope of application of the said agreements, which shall set out the conditions and time limits of application of such provisions on confidentiality. Business confidential information shall not be passed on to any third party without the consent of the transmitting Party and/or the transmitting cooperating organization.

3. The Parties and cooperating organizations shall take all necessary measures in relation to their personnel, contractors and sub-contractors to ensure the observance of the obligations on maintaining confidentiality defined above.