When you’re a part of a big company and working on projects with Apple, you might find yourself with a desire to leak information about a product. Of course, this type of thing could land your company with a huge penalty because that information is obviously confidential. In fact, court filings in GT Advanced Technologies’ bankruptcy proceedings have revealed that Apple imposes an insane $50 million dollar penalty when a supplier leaks information.
As the proceedings carry on, more and more information is coming out about Apple’s relationship with GT Advanced Technologies, and many of the revelations will shed light on Apple’s dealings with other companies as well.
In fact, GT Advanced even had to ask for permission to show the details of its agreement with Apple in its court filings, in order “to ensure an open, transparent and fair process.” This was because of the confidentiality agreements between the two companies.
Last year, GT Advanced entered into a $578 million deal with Apple for the scratch-resistant sapphire material used to cover the iPhone’s Touch ID fingerprint sensor and rear camera lenses.
GT Advanced has plans to close plants in Arizona and Massachusetts. These closures could cost 890 jobs even though Apple said it plans to focus on preserving the ones it helped create by building the facility in Mesa, Ariz., and then leased to GT Advanced to manufacture sapphire for the iPhone, Apple Watch and potentially other Apple products.