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.
Missouri Unilateral Nondisclosure Agreement for Use in Technology Transactions
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Multi-State
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US-TC0305
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FAQ
A mutual non-disclosure agreement between individuals is a contract between two parties analyzing a potential business deal or some other potential merger that may have a collective benefit to both parties.
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.
Overall, mutual NDAs are used in a wide range of contexts where confidential information needs to be shared between two or more parties, and where all parties need to agree to keep the information confidential. By using a mutual NDA, all parties can feel assured that their confidential information is being protected.
The red flag of misuse is when you ask for an NDA for a pitch meeting, a meet and greet, or a job interview. If your idea can be stolen after meeting someone for an hour for the first time, causing you irreparable harm in market, it's probably not a very good idea, or you're a terrible business person.
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.
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.
A Confidential Disclosure Agreement [(CDA), also referred to as non-disclosure agreement (NDA) or secrecy agreement, is a legal agreement between a minimum of two parties which outlines information the parties wish to share with one another for certain evaluation purposes, but wish to restrict from wider use and ...
The two main types of NDAs are Unilateral and Mutual. Unilateral NDAs are used when only one party is disclosing information such as an employer, a startup or a company to an employee, investor or consultant respectively. On the other hand, a mutual NDA is used when both parties are disclosing confidential information.