This is a nondisclosure agreement that is to be used in technology transactions. It concerns the use and confidentiality of "evaluation material" between the target company and a company seeking a transaction with that company.
Kansas Unilateral Nondisclosure Agreement for Use in Technology Transactions is a legal contract that outlines the terms and conditions governing the confidentiality of information disclosed between parties involved in technology transactions in the state of Kansas. This agreement promotes the protection of proprietary and sensitive information and helps establish a level of trust and security between the disclosing party (the Disclosed) and the receiving party (the Recipient). The Kansas Unilateral Nondisclosure Agreement is specifically tailored for technology-related agreements, including software development, technology licensing, research and development collaborations, and other similar transactions. It is designed to safeguard concepts, ideas, trade secrets, formulas, source codes, designs, algorithms, customer data, and any other information that may be disclosed in confidence. Key provisions typically found in a Kansas Unilateral Nondisclosure Agreement include: 1. Definition of Confidential Information: The agreement clearly defines what constitutes confidential information and may include examples of the types of information covered under the agreement. 2. Obligations of the Recipient: The Recipient agrees to keep all disclosed information confidential and to take reasonable measures to protect it from unauthorized access or disclosure. This clause often emphasizes the Recipient's duty of care and loyalty to the Disclosed. 3. Purpose and Scope: The agreement specifies the purpose for which the information is being disclosed and limits the use of the information to that specific purpose. It also clarifies that no license or rights are being granted to the Recipient beyond what is necessary to achieve the stated purpose. 4. Term and Termination: The duration of the agreement is determined, often with a defined term or until the Confidential Information becomes publicly available through lawful means. Termination clauses may also address the return or destruction of the disclosed information upon termination. 5. Exceptions: Certain information may be excluded from the confidentiality obligations, such as information already in the Recipient's possession, information obtained from a third party without any breach of confidentiality, or information independently developed by the Recipient. It's important to note that while the general structure of a Kansas Unilateral Nondisclosure Agreement remains the same, variations may exist depending on the specific requirements of the parties involved, the nature of the technology transaction, and additional clauses that may be necessary to adequately address their unique circumstances. Parties should always consult legal professionals to ensure the agreement is tailored to their specific needs. Overall, a Kansas Unilateral Nondisclosure Agreement for Use in Technology Transactions serves as a vital tool to protect proprietary information and maintain confidentiality between parties engaging in technology-related collaborations in Kansas.
