This is a nondisclosure agreement that is to be used in technology transactions. It concerns the use and confidentiality of "evaluation material" between the target company and a company seeking a transaction with that company.
The Bronx, located in New York City, is one of the five boroughs that make up the city. Known for its vibrant communities, cultural diversity, and rich history, the Bronx has become a center of technology and innovation. In order to protect sensitive information and intellectual property shared during technology transactions, a Bronx New York Unilateral Nondisclosure Agreement (NDA) is often utilized. A Unilateral Nondisclosure Agreement is a legally binding contract between two parties, where one party discloses confidential information to the other under specific conditions. In the context of technology transactions in the Bronx, this agreement ensures that any confidential or proprietary technology-related information disclosed by one party remains confidential and is not shared with third parties or used for any unauthorized purposes. The Bronx New York Unilateral Nondisclosure Agreement for Use in Technology Transactions typically includes the following key elements: 1. Definition of Confidential Information: Clearly defines what information is considered confidential and protected under the agreement. This can include trade secrets, technical data, formulas, algorithms, software code, designs, customer information, financial data, business plans, and other proprietary information. 2. Obligations of the Receiving Party: Outlines the obligations of the receiving party (often referred to as the "Recipient") to maintain the confidentiality of the disclosed information. This includes refraining from disclosing the confidential information to third parties, using it only for authorized purposes, and implementing necessary security measures to protect its confidentiality. 3. Purpose Limitation: Specifies the purpose for which the confidential information is being disclosed and limits its use solely to that purpose. This helps prevent the receiving party from using the information for any other purposes without the consent of the disclosing party. 4. Term of Confidentiality: Determines the timeframe during which the confidential information must be kept confidential. It can be a specific duration or indefinite, depending on the circumstances of the transaction. 5. Exclusions: Identifies certain information that is not considered confidential or protected under the agreement. This can include information already in the public domain, information received from third parties without any confidentiality obligations, or information independently developed by the receiving party. 6. Remedies and Jurisdiction: Specifies the available remedies in case of a breach of the agreement and determines the jurisdiction in which any disputes will be resolved. Depending on the specific needs and requirements of the parties involved, there may be variations or additional clauses included in the Bronx New York Unilateral Nondisclosure Agreement for Use in Technology Transactions. It is essential to consult with legal professionals experienced in technology transactions to ensure the agreement aligns with both parties' expectations and provides adequate protection for sensitive information.The Bronx, located in New York City, is one of the five boroughs that make up the city. Known for its vibrant communities, cultural diversity, and rich history, the Bronx has become a center of technology and innovation. In order to protect sensitive information and intellectual property shared during technology transactions, a Bronx New York Unilateral Nondisclosure Agreement (NDA) is often utilized. A Unilateral Nondisclosure Agreement is a legally binding contract between two parties, where one party discloses confidential information to the other under specific conditions. In the context of technology transactions in the Bronx, this agreement ensures that any confidential or proprietary technology-related information disclosed by one party remains confidential and is not shared with third parties or used for any unauthorized purposes. The Bronx New York Unilateral Nondisclosure Agreement for Use in Technology Transactions typically includes the following key elements: 1. Definition of Confidential Information: Clearly defines what information is considered confidential and protected under the agreement. This can include trade secrets, technical data, formulas, algorithms, software code, designs, customer information, financial data, business plans, and other proprietary information. 2. Obligations of the Receiving Party: Outlines the obligations of the receiving party (often referred to as the "Recipient") to maintain the confidentiality of the disclosed information. This includes refraining from disclosing the confidential information to third parties, using it only for authorized purposes, and implementing necessary security measures to protect its confidentiality. 3. Purpose Limitation: Specifies the purpose for which the confidential information is being disclosed and limits its use solely to that purpose. This helps prevent the receiving party from using the information for any other purposes without the consent of the disclosing party. 4. Term of Confidentiality: Determines the timeframe during which the confidential information must be kept confidential. It can be a specific duration or indefinite, depending on the circumstances of the transaction. 5. Exclusions: Identifies certain information that is not considered confidential or protected under the agreement. This can include information already in the public domain, information received from third parties without any confidentiality obligations, or information independently developed by the receiving party. 6. Remedies and Jurisdiction: Specifies the available remedies in case of a breach of the agreement and determines the jurisdiction in which any disputes will be resolved. Depending on the specific needs and requirements of the parties involved, there may be variations or additional clauses included in the Bronx New York Unilateral Nondisclosure Agreement for Use in Technology Transactions. It is essential to consult with legal professionals experienced in technology transactions to ensure the agreement aligns with both parties' expectations and provides adequate protection for sensitive information.
