1. Purpose. Lowe’s sources products for resale and, thus, the evaluation of potential manufacturing opportunities with Lowe’s is commercially valuable for manufacturers. Lowe’s agrees to make a limited disclosure of certain Lowe’s Proprietary Evaluation Materials (as defined in Section 23.4) to Company and/or Company’s directors, officers, employees, affiliates, agents, independent contractors and advisors (collectively ‘RepresentativefsV’) for the sole purpose of Company using the Lowe’s Proprietary Evaluation Materials to consult with Lowe’s regarding the possible manufacture of certain products for Lowe’s (“Evaluation Opportunity”). Company has expressed an interest in reviewing the Lowe’s Proprietary Evaluation Materials and Company acknowledges and agrees that the Evaluation Opportunity has material value to Company and is adequate consideration for the assignment of Company’s rights in the Work Product (as defined in Section 23.6), which includes by definition Intellectual Property Rights (as defined in Section 23.5). Company further acknowledges and agrees that Lowe’s has an interest in protecting the proprietary nature of the Lowe’s Proprietary Evaluation Materials from misuse and/or misappropriation and that the terms of this Agreement prohibiting Company’s unauthorized use or disclosure of the Lowe’s Proprietary Evaluation Materials are reasonably necessary to protect Lowe’s right, title and interest in the Lowe’s Proprietary Evaluation Materials. Company further acknowledges and agrees that, given the value of the Evaluation Opportunity and the necessity of protecting the Lowe’s Proprietary Evaluation Materials, the terms of this Agreement have been carefully considered and negotiated by Company and that these terms are reasonable for both parties.
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