The parties desire to enter into discussions and negotiations regarding the purchase of material described in the agreement. The parties agree that any information obtained in the discussions will remain confidential and proprietary. All the terms and conditions of the agreement will be binding upon the successors and assigns of the parties and will survive the execution of the agreement and the termination of the discussions and negotiations between the parties.
Nondisclosure Confidentiality Contract With Attorney In Phoenix
State:
Multi-State
City:
Phoenix
Control #:
US-00456
Format:
Word;
Rich Text
Instant download
Description
Free preview
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FAQ
Whereas confidentiality agreements are typically devised in employment or personal situations to protect sensitive information, NDAs are often used in business and legal settings to protect trade secrets, client lists, and financial data.
Yes, the law in Arizona allows for NDAs and non-compete agreements and will enforce them if they adhere to state law. These contracts must comply with the following requirements: They must specifically protect a legitimate business interest, such as intellectual property or trade secrets.
In Arizona, information that is considered a trade secret is protected by the AUTSA with or without an NDA. Under the statute, a “trade secret” means almost any confidential information that derives its economic value from remaining secret and is the subject of reasonable steps to protect it.
Five other key features must be included in your NDA to ensure it's legally binding, including a description of confidential information, obligations of the parties involved, any exclusions, the term of the agreement and consequences of a breach.
In Arizona, courts will only enforce NDAs if they are “reasonable,” meaning that overly restrictive NDAs may not protect an employer's confidential information if the matter goes to court.
Noncompete agreements in Arizona are perfectly legal and will be enforced when they meet certain conditions. Arizona courts will uphold reasonable noncompete agreements that don't restrict employees for too long or from too far away.
2. NDAs are enforceable when they are signed — if they are properly drafted and executed.
In general, Arizona law upholds confidentiality and non-disclosure agreements, as long as the documents are lawful, valid and do not go against public policy. It is important to have a Scottsdale breach of contract lawyer help you draft a confidentiality agreement to make sure that it is enforceable.
Completing the Confidentiality Agreement The "Receiving Party" is the person or company who receives the confidential information and is obligated to keep it secret. You'll need to fill in information specific to your circumstances in the spaces provided, such as the parties' names and addresses.