A company and a contractor are negotiating a possible transaction. The contractor has requested information concerning the business of the company. As a condition of the contractor being furnished with the requested information, the contractor agrees to treat such information as being confidential and the information will be used solely for the purpose of evaluating the tentative transaction between the parties.
Non-disclosure Confidentiality Agreement For Selling A Business In Travis
State:
Multi-State
County:
Travis
Control #:
US-00457
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Creating the NDA The potential buyers agree: That any information provided about the business is confidential. Not to divulge that information to anyone else, including the fact that the business is for sale. To return all business records and data to the business owner after it has been reviewed.
It doesn't need to be notarized or filed with any state or local administrative office.
Seller-buyer NDAs Sellers can use NDAs to limit the buyer from sharing confidential information that they were exposed to during the sale of goods or services. They usually limit buyers from sharing the following: Business operations, such as the seller's financial and internal information.
You don't need a lawyer to create the agreement, but you may need someone with legal expertise to review it.
You cannot sign a non-disclosure agreement (NDA) with yourself because an NDA is a contract between two or more parties.
You do not need a lawyer to create and sign a non-disclosure agreement. However, if the information you are trying to protect is important enough to warrant an NDA, you may want to have the document reviewed by someone with legal expertise.
The key elements of Non-Disclosure Agreements: Identification of the parties. Definition of what is deemed to be confidential. The scope of the confidentiality obligation by the receiving party. The exclusions from confidential treatment. The term of the agreement.
All NDAs should include these specific elements: Identification of Parties: Also known as “parties to the agreement”, the purpose of this section is to identify the people and/or entities involved in the non-disclosure contract. It explains who the disclosing party and recipient of are, using 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.
I hereby undertake to treat as confidential all and any information that I receive while participating in the work of evaluating project proposals, to use this information solely for the purpose of evaluation of the proposals, not to disclose it to any third party and not to make it publicly available or accessible ...