Non Disclosure Agreement Template

Non Disclosure Agreement Template - Non-Disclosure...

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Unformatted text preview: Non-Disclosure Agreement Agreement made [insert date], between: [insert company A name] including its affiliates and subsidiaries, with principal offices at [insert address] and [insert company B name] with principal offices at [insert address]. In connection with a possible business relationship between the parties, each party intends to disclose certain confidential information to the other party. The purpose of such disclosure is to enable each party (i) to evaluate the proposed business relationship and (ii) to conduct any ensuing business arrangement that is actually conducted by the parties without the benefit of a further agreement governing the treatment of confidential information. In consideration of each party making such confidential information available to the other party, the parties hereby agree as follows: 1. Definitions. o "Owner" shall mean the party disclosing Proprietary Information (as hereinafter defined) or from whom Proprietary Information was obtained. o "Recipient" shall mean the party receiving the Proprietary Information. o "Proprietary Information" shall mean any and all technical, trade secret or business information including, without limitation, financial information, business or marketing strategies or plans, product dev elopment, or customer information of the Owner, which is disclosed to the Recipient or is otherwise obtained by the Recipient from the Owner, its affiliates, agents or representatives during the term of this agreement. 2. Duty not to Disclose. The Recipient acknowledges and understands that the Proprietary Information is confidential and proprietary, and is of great value and importance to the success of the Owner's business. The Recipient agrees to use its best efforts (the same being not less than that employed to protect its own proprietary information of a similar type) to safeguard the Proprietary Information and to prevent the unauthorized, negligent or inadvertent disclosure thereof. The Recipient shall not, without the prior written approval of an officer of the Owner, directly or indirectly, disclose the Proprietary Information to any person or business entity except for a limited number of employees, attorneys, accountants and other advisors of the Recipient and its affiliates on a need-to-know basis. The Recipient shall promptly notify the Owner in writing of any unauthorized, negligent or inadvertent disclosure of Proprietary Information of the Owner. The Recipient shall be liable under this agreement to the Owner for any disclosure in violation of this agreement by it or its affiliates' employees, attorneys, accountants or other advisors or agents. 3. Use Restriction. With respect to Proprietary Information that is designated on Schedule A hereto as “Special Proprietary Information”, if any, the Recipient shall only use the Special Proprietary Information for the limited purpose of evaluating the possibility of entering into a business relationship with the Owner as is presently being discussed between the parties and shall not use th e Special Proprietary Information for any other purpose. The Recipient shall promptly notify the Owner in writing of any unauthorized, negligent or inadvertent use of Special Proprietary Information of the Owner. The Recipient shall be liable under this agreement to the Owner for any use in violation of this agreement by it or its affiliates' employees, attorneys, accountants or other advisors or agents. 4. Duty To Return. The Recipient shall, upon completion or other termination of discussions with re spect to the Proprietary Information, or upon termination of this agreement, or upon demand by the Owner, whichever is earlier, promptly: (a) return to the Owner any and all Proprietary Information in tangible form together with all copies or reproductions thereof; and (b) destroy any notes, memoranda or other documents concerning the Proprietary Information and provide a certificate from an officer of Recipient certifying to Owner that such items have been destroyed. 5. Remedies. The Recipient acknowledges and understands that the use or disclosure of the Proprietary Information in any manner inconsistent with this agreement will cause the Owner irreparable damage. The Owner shall have the right to: (a) equitable and injunctive relief to prevent such unauthorized, negligent or inadvertent use or disclosure; and (b) recover the amount of all such damage (including attorneys' fees and expenses) to the Owner in connection with such use or disclosure. In the event that any court of competent jurisdiction determines that any provision of this agreement is too broad to enforce as written, such court is authorized and directed to construe, modify or reform such provision to the extent reasonable necessary to make such provision enforceable. Nothing in this agr eement shall be construed to prohibit any party from pursuing any other available remedies for breach or threatened breach of this agreement, including the recovery of damages. No failure or delay by any party in exercising any right, power or privilege under this agreement shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude the exercise of any other right, power or privilege hereunder. 6. Exclusions. Recipient shall not have any obligations under this agreement with respect to any information that is: (a) already known to Recipient or its affiliates at the time of the disclosure; (b) publicly known at the time of the disclosure or becomes publicly known through no wrongful act or failure of Recipient; (c) subsequently disclosed to Recipient or its affiliates on a non -confidential basis by a third party not having a confidential relationship with Owner which rightfully acquired such information; (d) communicated to a third party by Recipient with the express writt en consent of Owner; (e) independently developed by the Recipient or its affiliates; or (f) legally compelled to be disclosed pursuant to a subpoena, summons, order or other judicial or governmental process, provided Recipient provides prompt notice of any such subpoena, order, etc. to Owner so that Owner will have the opportunity to obtain a protective order. 7. Termination. This Agreement shall have a term of two years unless extended by mutual agreement or terminated pursuant to the succeeding sent ence. Either party may terminate this agreement by giving the other party 90 -business days written notice. The rights and obligations of the parties hereunder with respect to any Proprietary Information disclosed or obtained prior to termination shall su rvive any termination of this agreement or any return of Proprietary Information under Section 4 for a period of 5 years. 8. General. The Owner is not making any representation or warranty, expressed or implied, as to the accuracy or completeness of an y Proprietary Information nor shall the Owner have any liability to the Recipient or to any other person resulting from the Recipient's use of the Proprietary Information. Neither party shall be bound with regard to any transaction being discussed by the parties unless and until both parties execute a definite written agreement. The provisions of this agreement shall be binding upon each party's successors and assigns and shall be governed by and construed in accordance with the laws of Canada. Consummated and executed on [insert date]. Company A: Company B: Name: Name: Title: Title: Signature: Signature: ...
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This note was uploaded on 01/08/2011 for the course RTV 3208 taught by Professor Hendel during the Spring '10 term at University of Florida.

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