Hawaii Joint Nondisclosure Agreement for Use in Technology Transactions

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Multi-State
Control #:
US-TC0306
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Description

This joint nondisclosure agreement is used to provide appropriate protection for confidential information. It defines "confidential information" and prescribes the way it may and may not be used.

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FAQ

In a unilateral NDA, one party agrees not to reveal confidential information. In a mutual NDA, both sides agree that they will not share confidential information. In all other aspects, these two types of confidentiality agreements are identical, especially when it comes to enforcement and the consequences of a breach.

Both parties will sign the NDA after they finish drafting it. Like any business contract, unilateral NDAs require someone with authority (i.e., a C-suite executive) to sign the agreement on behalf of each party. Then, one party will disclose the confidential information and designate it as confidential.

Bilateral NDAs A bilateral confidentiality agreement (also known as mutual NDA or two-way NDAs) is a legal document that protects two parties that have to exchange private and specific information about each other to work in a joint venture, or to execute a project whose result will be used by both parties.

In a unilateral NDA, only one party agrees to keep the other party's confidential information private. However, in a bilateral NDA, both parties agree to keep the other's confidential information private.

Also known as mutual NDAs or two-way NDAs, bilateral NDAs require both parties to disclose their confidential information to each other. Both parties can limit how the other party will use and share their information.

Hawaii is now one of 15 states that restrict employers' use of NDAs to prevent employees from openly discussing allegations of workplace sexual misconduct. Hawaii law also prohibits employers from retaliating against an employee for disclosing or discussing sexual harassment or sexual assault.

Some of the exception clauses are: ? Information that is in the public domain. ? Information that the disclosing party disclosed before signing the agreement. ? Information received by the ?receiving party? from a third party, wherein the third party was not obliged to keep the information confidential.

You can use a one-way NDA when only one business is sharing information and the other agrees to keep it confidential. You can use a two-way NDA (also called a mutual NDA) when both businesses are sharing confidential information with each other and want to be sure that neither will disclose their trade secrets.

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Hawaii Joint Nondisclosure Agreement for Use in Technology Transactions