NONDISCLOSURE AGREEMENT
This Nondisclosure Agreement (the "Agreement") is entered into on [date] between [Disclosing Party name], with address at [address] (the "Disclosing Party"), and [Receiving Party name], with address at [address] (the "Receiving Party").
1. Purpose
The parties want to [purpose, for example evaluate a possible distribution agreement] (the "Purpose"). For the Purpose, the Disclosing Party may share Confidential Information with the Receiving Party.
2. Confidential Information
"Confidential Information" means any information shared in writing, orally or by any other means that is marked as confidential or that a reasonable person would understand to be confidential. It includes business plans, prices, customer lists, financial data, software, designs and know-how.
3. Exclusions
Confidential Information does not include information that (a) is or becomes public through no fault of the Receiving Party, (b) the Receiving Party already knew before receiving it, (c) the Receiving Party receives from a third party without a duty of confidentiality, or (d) the Receiving Party develops independently without using the Confidential Information.
4. Obligations of the Receiving Party
The Receiving Party will use the Confidential Information only for the Purpose. It will not disclose it to anyone except its employees and advisors who need to know it for the Purpose and who are bound by duties of confidentiality at least as strict as these. The Receiving Party will protect the Confidential Information with at least reasonable care.
5. Disclosure required by law
If a law, regulation or court order requires disclosure, the Receiving Party will notify the Disclosing Party promptly, where legally allowed, and will disclose only the part that is required.
6. Return or destruction
Within [10] days after the Disclosing Party asks, the Receiving Party will return or destroy all Confidential Information, including copies, and confirm it in writing.
7. Term
This Agreement starts on the date above and lasts [2] years. The duty of confidentiality survives for [3] years after the Agreement ends. Trade secrets stay protected for as long as they remain trade secrets under applicable law.
8. No license
Nothing in this Agreement grants the Receiving Party any license or ownership over the Confidential Information.
9. Remedies
A breach of this Agreement may cause harm that money alone cannot repair. The Disclosing Party may seek an injunction in addition to any other remedy available at law.
10. Whistleblower immunity notice
Under 18 U.S.C. 1833(b), an individual is not held criminally or civilly liable under any federal or state trade secret law for disclosing a trade secret (a) in confidence to a federal, state or local government official, or to an attorney, solely to report or investigate a suspected violation of law, or (b) in a complaint or other document filed under seal in a lawsuit. An individual who sues an employer for retaliation for reporting a suspected violation of law may disclose the trade secret to their attorney and use it in the court proceeding if the document is filed under seal and is not disclosed except by court order.
11. General terms
This Agreement is governed by the laws of [state]. It is the entire agreement between the parties on this subject and can be changed only in writing signed by both. The parties agree to sign this Agreement electronically, and an electronic signature has the same effect as a handwritten one.
DISCLOSING PARTY Signature: ______________________ Name: [full name] Title: [title] Date: [date] | RECEIVING PARTY Signature: ______________________ Name: [full name] Title: [title] Date: [date] |
