Effective Date: ____________________, 20____
(The "Disclosing Party")
(The "Receiving Party")
WHEREAS, the Disclosing Party possesses certain proprietary and confidential information relating to a business opportunity (the "Business") that may be disclosed to the Receiving Party for the purpose of evaluating a potential transaction between the parties (the "Purpose"); and
WHEREAS, the Receiving Party acknowledges the confidential nature of such information and agrees to be bound by the terms of this Agreement.
NOW, THEREFORE, the parties agree as follows:
1.1 "Confidential Information" means any and all information, technical data, or know-how, including, but not limited to, that which relates to research, products, services, customers, markets, software, developments, inventions, processes, designs, drawings, engineering, or finances, disclosed by the Disclosing Party to the Receiving Party, either directly or indirectly, in writing, orally, or by drawings or observation of parts or equipment. Confidential Information includes, without limitation:
2.1 Non-Disclosure. The Receiving Party agrees to hold the Confidential Information in strict confidence and shall not disclose such information to any third party without the prior written consent of the Disclosing Party.
2.2 Limited Use. The Receiving Party shall use the Confidential Information solely for the Purpose of evaluating a potential transaction and shall not use such information for any other purpose.
2.3 Protection of Information. The Receiving Party shall take reasonable measures to protect the Confidential Information, using at least the same degree of care it uses to protect its own confidential information of a similar nature, but in no event less than reasonable care.
2.4 Limitation on Access. The Receiving Party shall limit access to the Confidential Information to those employees, officers, or advisors who:
2.5 No Copying. The Receiving Party shall not copy, reproduce, or duplicate any Confidential Information without the prior written consent of the Disclosing Party.
3.1 The obligations of this Agreement shall not apply to information that the Receiving Party can demonstrate by competent evidence:
4.1 Legal Requirements. If the Receiving Party is required by law, regulation, or court order to disclose any Confidential Information, the Receiving Party shall:
4.2 Professional Advisors. The Receiving Party may disclose Confidential Information to its attorneys, accountants, financial advisors, and lenders who are bound by confidentiality obligations, provided such disclosure is necessary for the Purpose.
5.1 This Agreement shall commence on the Effective Date and continue for a period of five (5) years from the date of last disclosure.
5.2 The obligations of confidentiality with respect to trade secrets shall survive indefinitely, or for as long as such information remains a trade secret under applicable law.
6.1 Upon the Disclosing Party's request, or if the Receiving Party decides not to proceed with a transaction, the Receiving Party shall promptly:
7.1 The parties acknowledge that monetary damages may be inadequate to remedy a breach of this Agreement. Accordingly, the Disclosing Party shall be entitled to seek:
8.1 Nothing in this Agreement grants the Receiving Party any patent, copyright, or other intellectual property license with respect to the Confidential Information.
8.2 The Disclosing Party makes no representation or warranty as to the accuracy or completeness of the Confidential Information.
9.1 Neither party is obligated to proceed with any transaction by virtue of this Agreement. This Agreement does not create any partnership, joint venture, or agency relationship between the parties.
10.1 This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, without regard to its conflict of laws principles.
10.2 The parties irrevocably submit to the exclusive jurisdiction of the state and federal courts located in Tarrant County, Texas, for any disputes arising under this Agreement.
11.1 This Agreement constitutes the entire agreement between the parties regarding the subject matter hereof and supersedes all prior agreements, understandings, and discussions, whether written or oral.
11.2 This Agreement may be amended only by a written instrument signed by both parties.
12.1 If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
13.1 The failure of either party to enforce any provision of this Agreement shall not constitute a waiver of such provision or any other provision.
| Business Being Evaluated | |
|---|---|
| Business Name: | _________________________________ |
| Business Type/Location: | _________________________________ |
| Listing ID (if applicable): | _________________________________ |
| Name | Title/Relationship | |
|---|---|---|
| ____________________ | ____________________ | ____________________ |
| ____________________ | ____________________ | ____________________ |
| ____________________ | ____________________ | ____________________ |
Additional representatives may be added with prior written consent of Disclosing Party.
the parties have executed this Non-Disclosure Agreement as of the Effective Date.
DISCLOSING PARTY:
By: __________________________________
(Signature)
Name: ________________________________
Title: _________________________________
Date: _______________________, 20_____
RECEIVING PARTY:
By: __________________________________
(Signature)
Name: ________________________________
Title: _________________________________
Date: _______________________, 20_____
STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on this ____ day of __________________, 20____, by ____________________________________________ (name of person acknowledged).
______________________________________
Notary Public Signature
______________________________________
My Commission Expires: ________________