A Mutual Non-Disclosure Agreement (NDA) Template, also known as a bilateral NDA, is a legal contract used to protect confidential information shared between two parties. In this agreement, both parties agree not to disclose or use each other's confidential information for any purpose other than the specified purpose outlined in the agreement.
Introduction: An introductory section that identifies the parties involved in the agreement, commonly referred to as the "Disclosing Party" and the "Receiving Party," and provides a brief description of the purpose of the agreement.
Definition of Confidential Information: Clear definition of what constitutes confidential information under the agreement, including any proprietary information, trade secrets, business plans, financial data, technical specifications, or other sensitive information disclosed by either party.
Non-Disclosure Obligations: The obligations of both parties regarding the treatment of confidential information, including the duty to keep the information confidential, not to disclose it to third parties without prior consent, and not to use it for any purpose other than the specified purpose outlined in the agreement.
Exceptions to Confidentiality: Exceptions to the non-disclosure obligations, such as information that is already in the public domain, information independently developed by either party, or information required to be disclosed by law or court order.
Duration of Agreement: The duration of the non-disclosure obligations, including the start date and end date of the agreement, as well as provisions for the survival of confidentiality obligations beyond the termination or expiration of the agreement.
Remedies for Breach: Provisions regarding remedies available to either party in the event of a breach of the non-disclosure obligations, including injunctive relief, monetary damages, or other legal remedies.
Governing Law and Jurisdiction: Specification of the jurisdiction whose laws will govern the interpretation and enforcement of the agreement, as well as the venue for resolving disputes.
Miscellaneous Provisions: Any additional terms or conditions relevant to the specific agreement, such as warranties, indemnification clauses, or regulatory compliance.
Signatures: Signatures of both parties, indicating their agreement to the terms and conditions outlined in the non-disclosure agreement.
It's important to note that while a Mutual Non-Disclosure Agreement Template provides a starting point for documenting the confidentiality obligations, it should be customized to reflect the specific details and requirements of each disclosure arrangement. Additionally, it's recommended to seek legal advice to ensure compliance with relevant laws and regulations and to address any potential legal or operational risks associated with the agreement.