Mississippi Confidential Letter Agreement (With Joint Venture Party in Acquisition, as to Confidentiality and Noncompetition)
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FAQ
Whereas NDAs are often used in business and legal settings to protect trade secrets, client lists, and financial data, confidentiality agreements are typically devised in employment or personal situations to protect sensitive information.
Confidential Disclosure Agreements (CDAs)/NDAs CDAs are commonly executed when two parties are considering a relationship/collaboration together and need to understand the other's processes, methods, or technology solely for the purpose of evaluating the potential for a future relationship.
For some companies, all employees will be required to sign the agreement; for others, only select departments or types of employees will be subject to the agreement. NDAs may also be used before discussions between a company seeking funding and potential investors.
In practice, most NDAs are drafted by the disclosing party, usually the seller in M&A transactions. Sellers negotiate with multiple buyers, and maintaining consistent language across the agreements simplifies the process.
compete agreement is only used between an employee and a business to specify who may hire them should they leave the company. An NDA is much broader and is used to protect any personal or businessrelated information that one or both parties want to remain confidential.
?Disclosing Party? means the party disclosing Confidential Information to the other party, including any Affiliate of such other party. ?Receiving Party? means the party receiving Confidential Information from the other party, including any Affiliate of such other party.
Confidentiality of the Agreement The parties agree that the terms and provisions of this Agreement shall be kept confidential and shall be disclosed only to those persons and entities as required by law or as permitted by the other party hereto.
In general, recipients of confidential information are subject to an affirmative duty to keep the information confidential, and not to disclose it to third parties except as expressly permitted by the agreement. The recipient's duty is often tied to a specified standard of care.