Non Disclosure Agreement For Selling A Business Template for United Arab Emirates

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Key Requirements PROMPT example:

Non Disclosure Agreement For Selling A Business

"I need a Non-Disclosure Agreement For Selling A Business for my Dubai-based technology company, with specific provisions for protecting source code and customer data, as we're planning to start discussions with potential European buyers in March 2025."

Document background
The Non-Disclosure Agreement For Selling A Business is a critical legal document used in the United Arab Emirates when a business owner intends to sell their company and needs to share sensitive information with potential buyers. This document is essential in the UAE business sale context as it provides legal protection under UAE federal laws while allowing necessary disclosure of confidential business information during the sale process. The agreement typically covers financial records, trade secrets, customer lists, operational procedures, and other proprietary information. It's particularly important in the UAE market where business relationships and confidentiality are highly valued, and where specific legal frameworks govern commercial transactions and data protection. The document should be used before sharing any sensitive information with potential buyers or their representatives during the initial stages of a business sale transaction.
Suggested Sections

1. Parties: Identification of the disclosing party (seller), receiving party (potential buyer), and any authorized representatives

2. Background: Context of the business sale and purpose of sharing confidential information

3. Definitions: Detailed definitions including 'Confidential Information', 'Business', 'Representatives', 'Permitted Purpose', and other key terms

4. Scope of Confidential Information: Detailed description of what constitutes confidential information in the context of the business sale

5. Obligations of Confidentiality: Core confidentiality obligations, including use restrictions and security measures

6. Permitted Disclosures: Circumstances under which confidential information may be shared with specified parties

7. Term and Survival: Duration of confidentiality obligations and which provisions survive termination

8. Return or Destruction of Confidential Information: Requirements for handling confidential information after discussions end

9. Remedies: Legal remedies available in case of breach, including injunctive relief

10. General Provisions: Standard clauses including governing law, jurisdiction, entire agreement, and amendments

Optional Sections

1. Non-Solicitation: Prevents solicitation of employees or customers, included when the business has valuable human capital or customer relationships

2. Intellectual Property Rights: Additional provisions protecting IP rights, used when the business has significant IP assets

3. Data Protection Compliance: Specific provisions for handling personal data, required if personal data is involved

4. Electronic Information Security: Special provisions for protecting electronic data, needed for digital-heavy businesses

5. Competing Business Restrictions: Prevents use of information for competing purposes, important for businesses in competitive markets

6. Public Announcements: Controls over public statements about the potential transaction, important for sensitive deals

7. Due Diligence Process: Specific procedures for conducting due diligence, useful for complex transactions

Suggested Schedules

1. Schedule 1 - Specified Confidential Information: Detailed list of specific confidential information categories covered by the agreement

2. Schedule 2 - Authorized Representatives: List of individuals authorized to receive and handle confidential information

3. Schedule 3 - Security Protocols: Specific security measures required for handling different types of confidential information

4. Schedule 4 - Excluded Information: List of information specifically excluded from confidentiality obligations

5. Appendix A - Data Room Rules: Rules and procedures for accessing and using the data room, if applicable

6. Appendix B - Return/Destruction Certificate: Template certificate confirming return or destruction of confidential information

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Relevant Industries

Retail

Manufacturing

Technology

Professional Services

Healthcare

Real Estate

Hospitality

Financial Services

Construction

Energy

Transportation

Education

Media and Entertainment

Telecommunications

E-commerce

Relevant Teams

Legal

Finance

Executive Leadership

Mergers & Acquisitions

Corporate Development

Risk Management

Compliance

Business Development

Due Diligence

Corporate Secretariat

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Business Development Director

Corporate Lawyer

Investment Banker

Mergers & Acquisitions Director

Due Diligence Manager

Business Broker

Company Secretary

Financial Controller

Business Owner

Managing Director

Commercial Director

Legal Counsel

Risk Management Officer

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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