DEAL Galaxy S24 FE, Galaxy Watch 7. Subscribe today and be the first to learn about One 7 beta!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

News For You
News For You
Notifications

Samsung’s trying to plug leaks with a new confidentiality agreement for partners

Business
By 

Last updated: August 24th, 2021 at 17:02 UTC+02:00

As Samsung continues to make efforts towards plugging leaks and preventing technologies from falling into the hands of its rivals, the company is said to have sent out a revised confidentiality agreement to its semiconductor and component partners.

The new confidentiality agreement was reportedly written by Samsung's Device Solutions branch and signed by the co-CEO and Vice Chairman of the chip business. Local news outlet The Elec has learned that Samsung will send the revised contract only to semiconductor partners who are heavily involved with the company's production processes.

Samsung is outlining new rules and breach of contract fines

Samsung has reportedly drafted at least a couple of new contract formats for its supply chain partners. One of these contracts is requiring partners to be more open about their employees. Partners will need to keep Samsung informed on former employees who have started working for the company's suppliers within a year of departing from Samsung.

Furthermore, Samsung asks its partners to prevent ex-Samsung employees from working on technologies that allow them access to confidential information. Breaching these contract agreements can result in partners getting fines of $85,000 and up.

Although some partners reportedly believe that Samsung's new contract is too strict, it's not like Samsung didn't have to deal with contract breaches in the past. New technologies are the lifeblood of the company, and it makes sense for Samsung to want to maintain the highest level of secrecy.

Even South Korea's intelligence is on Samsung's side, especially following recent events. A Samsung official was arrested a few years ago for trying to sell company secrets to rivals based in China. And last year, two Samsung Display researchers got charged with leaking OLED technology to China.

BusinessGeneral Samsung ElectronicsSamsung Semiconductor
Galaxy AI summarized

Scroll for more related content
News For You

You might also like

Samsung’s new landmark display is as big as three basketball courts

Samsung’s new landmark display is as big as three basketball courts

Samsung made our brains melt when we visited its flagship store in South Korea earlier this summer and witnessed one of the largest displays we've ever seen — a 600-inch The Wall screen that, fittingly enough, covered an entire wall. Now, Samsung is at it again. The company has just finished installing an even larger […]

  • By Mihai Matei
  • 2 days ago
Samsung perfectly condensed its new way of being in under 1 minute

Samsung perfectly condensed its new way of being in under 1 minute

Many people might not realize this, but 2024 has been a very special year for Samsung, as the company slowly but surely pivoted to carving itself a new identity. You're not sure what that means? Check out this new one-minute video Samsung just published. Purposefully titled “Love is in the AIr,” Samsung's latest video encapsulates […]

  • By Mihai Matei
  • 2 days ago
Samsung CEO wants employees to make desperate efforts to improve products

Samsung CEO wants employees to make desperate efforts to improve products

Samsung is in a bit of a crisis right now. While the company has been the world's biggest memory chip maker for decades, it seems to have lost its footing in high-end memory chips (HBM) used in AI accelerators and GPUs. In times like these, Samsung CEO urged employees to focus on attaining technology leadership. […]

  • By Asif Iqbal Shaik
  • 5 days ago
Samsung’s profit jumps 72.8% in Q3 2024 despite chip struggles

Samsung’s profit jumps 72.8% in Q3 2024 despite chip struggles

Earlier today, Samsung announced its earnings for the third quarter of 2024. While the company's profits beat market expectations, its struggles in the memory chip market remain. The South Korean firm reported a consolidated revenue of KRW 79.1 trillion ($57.34 billion) and an operating profit of KRW 10.1 trillion ($7.3 billion). Samsung's net profit in […]

  • By Asif Iqbal Shaik
  • 6 days ago
Samsung’s device repair network welcomes 300+ more locations

Samsung’s device repair network welcomes 300+ more locations

Samsung's customer care network is expanding. The company announced today that its partnership with Cell Phone Repair (CPR) by Assurant, an Independent Service Provider (ISP) within Samsung's repair network, is opening more than 300 new service locations before the end of 2024. At the beginning of the year, CPR had roughly 100 locations certified by […]

  • By Mihai Matei
  • 1 week ago
Samsung goes all nostalgic for the ‘glorious Y2K era’

Samsung goes all nostalgic for the ‘glorious Y2K era’

Samsung has become nostalgic for the year 2000 and has partnered with two designers to create new accessories inspired by popular trends of the era. This new collection of accessories, designed for the Galaxy Z Flip 6 and the Galaxy Buds 3, recalls “the simpler and more fun years of our youth,” when the Internet […]

  • By Mihai Matei
  • 2 weeks ago