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Nondisclosure and Confidentiality Agreement - Potential Purchase

Suffolk New York Nondisclosure and Confidentiality Agreement - Potential Purchase

Name: Suffolk New York Nondisclosure and Confidentiality Agreement - Potential Purchase
Brand: US Legal Forms
Rating: 4.76 (310 reviews)

Category:

Confidentiality and Nondisclosure - Potential Purchase

State:

Multi-State

County:

Suffolk

Control #:

US-00456

Format:

Instant download

Description

The parties desire to enter into discussions and negotiations regarding the purchase of material described in the agreement. The parties agree that any information obtained in the discussions will remain confidential and proprietary. All the terms and conditions of the agreement will be binding upon the successors and assigns of the parties and will survive the execution of the agreement and the termination of the discussions and negotiations between the parties.

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FAQ

How Long Does an NDA Last? Every NDA is unique so each one will last a different amount of time. Common timeframes range between one year to 10 years, however, depending on the information that is to be kept private, an NDA may be indefinite.

And while every non-disclosure agreement is as unique as the parties and the agreement involved, terms of 1 10 years are standard, with the duration of confidentiality lasting indefinitely on trade secrets and as long as possible (or as is necessary) for other forms of IP.

Exceptions to Confidentiality ObligationsExceptions to Confidentiality Obligations.Exceptions to Confidential Information.General Confidentiality.Cooperation; Confidentiality.Duration of Confidentiality.Noncompetition and Confidentiality.Access to Information; Confidentiality.Waiver of Confidentiality.More items...

How long should the recipient of confidential information keep it a secret? Your NDA may state that this obligation survives in perpetuity (that is, with no fixed termination date), but the markup you receive caps the period to the term of the agreement, or to several years after disclosure of the information.

The Key Elements of Non-Disclosure AgreementsIdentification of the parties.Definition of what is deemed to be confidential.The scope of the confidentiality obligation by the receiving party.The exclusions from confidential treatment.The term of the agreement.

One way to get out of an NDA is when the set term of the contract expires. Another way is if the contract is ended in accordance with its termination clause. In some cases, however, your legal obligations to maintain confidentiality can continue for many years.

Some of the exception clauses are: Information that is in the public domain. Information that the disclosing party disclosed before signing the agreement. Information received by the receiving party from a third party, wherein the third party was not obliged to keep the information confidential.

Confidentiality agreements can run indefinitely, covering the parties' disclosures of confidential information at any time, or can terminate on a certain date or event. Whether or not the overall agreement has a definite term, the parties' nondisclosure obligations can be stated to survive for a set period.

No Expiration Dates So long as they are kept secret, trade secrets do not expire. Likewise, the confidentiality obligations in an NDA should have no expiration date.

A confidentiality agreement is a legally binding contract that states two parties will not share or profit from confidential information. A business usually gives a confidentiality agreement to an employee or contractor to make sure its trade secrets or proprietary information remains private.

More info

Intrado Interactive Services Corporation. Contract No. 26-CC-003.An NDA ensures that data is protected. "Bank Merger" has the meaning set forth in the Recitals to this Agreement. Corporate Disclosure Statement on Possible Judicial Conflict of Interest.

Suffolk New York Nondisclosure and Confidentiality Agreement - Potential Purchase

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