A Bilateral Confidentiality Agreement is essential when two parties need to share sensitive information while maintaining its confidentiality. Common in business negotiations, mergers, partnerships, and joint ventures under U.S. jurisdiction, this agreement ensures mutual protection of trade secrets, proprietary information, and intellectual property. It defines the scope of protected information, establishes security protocols, and outlines consequences of unauthorized disclosure. Unlike unilateral NDAs, this agreement provides reciprocal protection to both parties.
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1. Parties: Identification of all parties entering into the agreement, including legal names and addresses
2. Background/Recitals: Context of the agreement and purpose for sharing confidential information
3. Definitions: Key terms including 'Confidential Information', 'Trade Secrets', 'Representatives', 'Permitted Purpose'
4. Confidentiality Obligations: Core mutual obligations regarding protection and non-disclosure of confidential information
5. Permitted Uses: Specified purposes for which confidential information may be used
6. Term and Termination: Duration of the agreement and termination provisions
7. Return of Information: Obligations regarding return or destruction of confidential information
8. Governing Law: Applicable jurisdiction and choice of law
1. Whistleblower Provisions: DTSA immunity notice provisions for employees and contractors
2. Securities Laws Compliance: Insider trading provisions for publicly traded companies
3. Non-Solicitation: Restrictions on soliciting employees or customers between parties
4. Residual Knowledge: Provisions addressing the treatment of information retained in memory
1. Schedule A - Description of Confidential Information: Detailed list or categories of information covered by the agreement
2. Schedule B - Authorized Representatives: List of individuals authorized to receive and handle confidential information
3. Schedule C - Security Protocols: Specific procedures for handling and protecting confidential information
4. Schedule D - Notice Requirements: Contact details and procedures for required notices under the agreement
Relevant legal definitions
Clauses
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