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Standard NDA Terms
"I need Standard NDA Terms for a technology startup sharing sensitive product development information with potential investors, with specific provisions for protecting our AI algorithms and data processing methods."
1. Parties: Identification of the disclosing and receiving parties, including legal names and addresses
2. Background: Context of the agreement and purpose for sharing confidential information
3. Definitions: Key terms including 'Confidential Information', 'Trade Secrets', 'Representatives'
4. Scope of Confidential Information: Detailed description of what constitutes confidential information
5. Obligations of Receiving Party: Core confidentiality obligations and standard of care
6. Permitted Disclosures: Circumstances under which confidential information may be shared
7. Term and Termination: Duration of the agreement and confidentiality obligations
8. Return of Confidential Information: Requirements for returning or destroying confidential information
1. Non-Solicitation: Optional clause to prevent poaching of employees/clients when sharing information about personnel or customer relationships
2. Non-Competition: Optional clause to restrict competitive activities when sharing business strategy or market-sensitive information
3. Data Protection: Optional provisions for handling personal data when personal data is involved or GDPR compliance is needed
4. Residual Knowledge: Optional clause addressing handling of information retained in memory, typically used in technology or innovation-focused agreements
1. Schedule of Confidential Information: Detailed list of specific confidential materials or information types
2. Authorized Representatives: List of individuals authorized to receive confidential information
3. Security Protocols: Specific procedures for handling and storing confidential information
4. Form of Acknowledgment: Template for representatives to acknowledge confidentiality obligations
Authors
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