Buyer Confidentiality Agreement Template for Australia

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Key Requirements PROMPT example:

Buyer Confidentiality Agreement

"I need a Buyer Confidentiality Agreement for a potential acquisition of a mid-sized Australian technology company, with specific provisions for handling source code and customer data, and allowing disclosure to our technical due diligence team and external IT consultants."

Document background

The Buyer Confidentiality Agreement is essential in Australian business transactions where sensitive commercial information needs to be shared with potential purchasers. It is typically used at the early stages of a potential sale, acquisition, or significant commercial transaction, before detailed due diligence begins. The document ensures that confidential information shared during preliminary discussions and evaluation processes is protected under Australian law, including financial data, trade secrets, customer information, and other commercially sensitive details. This agreement is particularly important given Australia's robust privacy regime and common law principles protecting confidential information. It includes specific provisions for various types of confidential information, permitted uses, and obligations for information security and return/destruction.

Suggested Sections

1. Parties: Identification of the disclosing party (typically seller) and receiving party (buyer)

2. Background: Context of the potential transaction and purpose of sharing confidential information

3. Definitions: Key terms including 'Confidential Information', 'Representatives', 'Permitted Purpose'

4. Confidentiality Obligations: Core obligations regarding non-disclosure and protection of confidential information

5. Permitted Use and Disclosure: Specified purposes for which confidential information may be used and circumstances of permitted disclosure

6. Security Measures: Required procedures for protecting confidential information

7. Return or Destruction: Obligations regarding the return or destruction of confidential information upon request or termination

8. Duration and Survival: Term of the agreement and surviving obligations

9. No Representations or Warranties: Disclaimer regarding accuracy or completeness of confidential information

10. Remedies: Rights and remedies in case of breach, including injunctive relief

11. General Provisions: Standard boilerplate including governing law, jurisdiction, entire agreement, etc.

Optional Sections

1. Related Entity Disclosure: Provisions for sharing information with group companies - include when buyer is part of a corporate group

2. Representative Obligations: Specific provisions for advisors and representatives - include when professional advisors will need access

3. Insider Trading Provisions: Special provisions when confidential information may include market-sensitive information about listed companies

4. Data Protection Compliance: Specific provisions for handling personal data - include when confidential information includes personal information

5. International Transfer: Provisions for cross-border data transfers - include for international buyers

6. Non-Solicitation: Restrictions on soliciting employees or customers - include if relevant to transaction context

7. Specific Security Protocols: Detailed IT security requirements - include for highly sensitive information

Suggested Schedules

1. Schedule 1 - Confidential Information: Specific list or categories of confidential information covered

2. Schedule 2 - Authorized Representatives: List of approved representatives who may access the confidential information

3. Schedule 3 - Security Protocols: Detailed security procedures and requirements if specific protocols are required

4. Schedule 4 - Destruction Certificate: Form of certificate confirming destruction of confidential information

5. Schedule 5 - Related Entities: List of related entities authorized to receive information if applicable

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Manufacturing

Technology

Healthcare

Financial Services

Professional Services

Real Estate

Retail

Mining & Resources

Agriculture

Construction

Education

Transport & Logistics

Media & Entertainment

Energy & Utilities

Relevant Teams

Legal

Corporate Development

Mergers & Acquisitions

Finance

Risk & Compliance

Strategy

Executive Leadership

Business Development

Operations

Information Security

Relevant Roles

Chief Executive Officer

Chief Financial Officer

General Counsel

Legal Counsel

Corporate Development Manager

Mergers & Acquisitions Director

Business Development Manager

Investment Manager

Due Diligence Manager

Risk Manager

Compliance Officer

Company Secretary

Finance Director

Strategy Director

Operations Manager

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Let's create your Buyer Confidentiality Agreement

Authors

Alex Denne

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