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The NDA should ensure that any third-party recipients of the information are also subject to confidentiality obligations. This can be done by requiring that the third-party enter into a separate NDA (known as a back-to-back NDA) on substantially the same terms as the original agreement.
Effective Date means the date of the signature of the last Party to sign this NDA.
Most NDAs will have a clause allowing either party to make changes to the agreement, including changes to the term or any clauses. However, these clauses often require both parties to agree to the changes.
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.
Confidentiality agreements are sometimes put in place at a later date than the date they are actually drafted ? thus memorializing a prior agreement. Again, backdating of such an agreement is entirely appropriate.
Time Limitations often range from three years from the date of disclosure to five years from the termination or expiration of the NDA.
If your company discloses confidential information without having the NDA agreed to first, ensure that the NDA applies retroactively by setting the effective date as the date on which confidential information was first disclosed, not the date on which the agreement was signed.
Some NDAs may have an expiration clause that lasts for a certain number of years after the agreement is signed, while others may specify an expiration date. In some cases, an NDA may have no expiration date, and the confidential information must be kept secret indefinitely.