Non Disclosure Agreement

This Packet Includes:

1. Description and Instructions;

2. Non Disclosure Agreement

Description and Instructions

Non Disclosure Agreement

DESCRIPTION

Non Disclosure agreements or Confidentiality agreements are contracts entered into by two or more parties in which some or all of the parties agree that certain types of information that is disclosed by one party to the other or that are created by one of the parties will remain confidential. Such agreements are often used when a company or individual has a secret process or a new product that it wants another company to evaluate as a precursor to a comprehensive licensing agreement; when a company wants to engage an independent contractor or employ an employee to work on company’s proprietary ideas, concepts etc.; when a company is looking to discuss it business and financial information for the purpose of seeking investments from investors; or, perhaps one party wants to evaluate another's existing commercial product for a new and different application.

It is important to define exactly what constitutes confidential or proprietary information and what can and cannot be disclosed. Nondisclosure agreements thus protect sensitive technical or commercial information from disclosure to others and also provide with adequate remedy to the disclosing party in the event that the information is revealed to another individual or company or third party thereby providing the injured party to claim a breach of contract and can seek injunctive and monetary damages.

A signed Non-Disclosure agreement will be best safeguard to protect the information in three ways:

1. It emphasises the importance of non-disclosure or confidentiality.
2. It can act as deterrent to any party who might consider deliberate disclosure.

3. Should a violation occur, a non- disclosure agreement will work to your advantage in a court of law.

INSTRUCTIONS

□ Both parties should carefully review the Agreement.

□ This Agreement may be customised for both Mutual and Unilateral Non Disclosure Agreements by changing the referencing terms of the parties in the way it is described in the instructions below in brackets.

□ Parties should clearly state what Confidential Information consist of more particularly in the Exhibit A.

□ Parties should clearly mention the Approved Purpose (as mentioned in Clause 2 below) for which the confidential information is being disclosed.

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