The Advisory Board Confidentiality Agreement is essential when organizations engage external experts as advisory board members who will have access to sensitive business information. This document ensures that confidential information, trade secrets, and intellectual property are protected under U.S. federal and state laws. The agreement typically outlines the scope of confidentiality, duration of obligations, and consequences of breach, while establishing clear guidelines for handling and returning confidential materials. It's particularly crucial for organizations sharing strategic plans, proprietary technology, or sensitive market information with their advisory board members.
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Key Requirements PROMPT example:
Advisory Board Confidentiality Agreement
"I need an Advisory Board Confidentiality Agreement for a biotech startup that emphasizes IP protection, particularly around our gene therapy research, and includes strict non-competition provisions for a three-year term starting January 2025."
1. Parties: Identification of the company and advisory board member
2. Background: Context of the advisory relationship and purpose of the agreement
3. Definitions: Key terms including Confidential Information, Trade Secrets, and Intellectual Property
4. Confidentiality Obligations: Core confidentiality provisions and restrictions on use
5. Term and Termination: Duration of confidentiality obligations and termination provisions
6. Return of Materials: Requirements for returning confidential materials upon termination
7. Governing Law: Applicable jurisdiction and choice of law
1. Non-Competition: Restrictions on competing activities, applicable when advisory role involves sensitive competitive information
2. Non-Solicitation: Restrictions on soliciting employees or customers, relevant when advisor has significant contact with employees or customers
3. Intellectual Property Assignment: Assignment of IP rights for advisory work, necessary when advisor may contribute to IP development
1. Description of Advisory Services: Detailed scope of advisory role and responsibilities
2. List of Pre-Existing IP: Inventory of advisor's pre-existing intellectual property
3. Specific Categories of Confidential Information: Detailed list of types of confidential information covered
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