RELATIONSHIP OF THE PARTIES. Neither party has an obligation under this Agreement to purchase any service or item from the other party or commercially offer any products using or incorporating the Confidential Information. This Agreement does not create any agency, partnership, or joint venture.
NO WARRANTY. Owner makes no warranties, express or implied, with respect to the Confidential Information and hereby expressly disclaims any and all implied warranties of merchantability and fitness for a particular purpose. In no event shall Owner be liable for any direct, indirect, special, or consequential damages in connection with or arising out of the performance of any portion of the Confidential Information.
LIMITED LICENSE TO USE. Recipient shall not acquire any intellectual property rights under this Agreement except the limited right to use set out above. Recipient acknowledges that, as between Owner and Recipient, the Confidential Information and all related intellectual property rights are (and at all times will be) the property of Owner.
GENERAL PROVISIONS. This Agreements sets forth the entire understanding of the parties regarding confidentiality. The obligations of confidentiality shall survive 10 years from the date of disclosure of the Confidential Information. Any amendments to this Agreement shall be made in writing and signed by both parties. The Agreement shall be construed under the law of the State of North Carolina. This Agreement shall not be assignable by either party, and neither party may delegate its duties under this Agreement without the prior written consent of the other party. The confidentiality provisions of this Agreement shall remain in full force and effect after the Effective Date of this Agreement.
IN WITNESS THEREOF, this Agreement has been executed and delivered in the manner prescribed by the law as of the date first written above.