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.
Non Disclosure Confidentiality Agreement With Liquidated Damages In Wake
State:
Multi-State
County:
Wake
Control #:
US-00456
Format:
Word;
Rich Text
Instant download
Description
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FAQ
This is typically where “Liquidated Damages Clauses” enter the conversation. A liquidated damages clause is a section of the NDA that establishes the monetary consequences associated with contract breach via unlawful information disclosure.
States, “a provision for liquidated damages will be regarded as valid, and not a penalty when three conditions are met: (1) the damages to be anticipated from the breach are uncertain in amount or difficult to prove, (2) there was an intent by the parties to liquidate them in advance, and (3) the amount stipulated is a ...
Examples of damages clause: Example 1: A construction contract might have a damages clause stating that if the contractor fails to complete the project by the agreed-upon date, they will be liable for liquidated damages of $1,000 per day for each day the project is delayed.
Proving a breach of a confidentiality agreement can be very difficult. Damages for breach of contract (or an accounting of profits, where the recipient has made commercial use of the information) may be the only legal remedy available once the information is disclosed.
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.
What is a nondisclosure agreement? 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.
A confidentiality agreement should include the names and addresses of the parties to the contract. Consider also including: Reason for the agreement: Explain why you're sharing this information. The information disclosed: Be specific about the subject matter and what exactly is included in the agreement.
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.
