Confidentiality provisions are not a new or novel inclusion in agreements for the sale of assets, let alone the sale of artwork. However, the extremely drawn out case of Hoffman v. L&M Arts, et al, presents a rather odd view on the scope and nature of confidentiality provisions within the art law context. Specifically, it provides buyers and sellers of artwork with important advice for the inclusion and construction of confidentiality provisions in future sales. The case also presents the interesting issue of whether a confidentiality provision requiring that the transaction for the sale of artwork remain confidential can preclude the future sale of the work.
Continue Reading Just Between Us: Buyer of Rothko Painting Sued for Breach of Confidentiality