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Pre Negotiation Agreement

Pre Negotiation Agreement Template for New Zealand

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Key Requirements PROMPT example:

Pre Negotiation Agreement

"I need a Pre-Negotiation Agreement for discussions between my tech startup and a potential investor from Singapore, with strong confidentiality provisions and IP protection clauses, as we'll be sharing sensitive technology information during our negotiations starting March 2025."

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Document background
The Pre-Negotiation Agreement serves as a crucial preliminary document for parties contemplating significant business transactions or relationships under New Zealand law. It is commonly used before entering into detailed negotiations for mergers, acquisitions, joint ventures, or substantial commercial arrangements. The document typically includes provisions for confidentiality, exclusivity (if applicable), cost allocation, and the non-binding nature of negotiations, while clearly identifying which provisions are legally binding. This agreement is particularly important in the New Zealand business context as it provides protection under local legislation, including the Contract and Commercial Law Act 2017 and Privacy Act 2020, while allowing parties to explore opportunities without committing to a final transaction.
Suggested Sections

1. Parties: Identification of all parties entering into the pre-negotiation agreement, including full legal names and addresses

2. Background: Context of the proposed transaction or relationship and purpose of entering into pre-negotiation discussions

3. Definitions: Key terms used throughout the agreement, including definition of confidential information

4. Purpose and Scope: Clear outline of what the parties intend to negotiate and the scope of potential discussions

5. Non-Binding Nature: Clear statement that the agreement to negotiate does not create binding obligations to enter into any final agreement

6. Confidentiality Obligations: Detailed provisions regarding the protection and non-disclosure of information shared during negotiations

7. Duration and Termination: Period for which the agreement will remain in effect and circumstances for termination

8. Binding Provisions: Specification of which provisions are binding (typically confidentiality, costs, and governing law)

9. Governing Law: Specification that New Zealand law governs the agreement

10. Execution: Signature blocks and execution provisions

Optional Sections

1. Exclusivity: Used when parties agree not to negotiate with other parties for a specified period

2. Cost Allocation: Include when parties need to specify how costs incurred during negotiations will be shared or borne

3. Good Faith Obligations: Optional provision detailing specific good faith requirements during negotiations

4. Break Fee: Used when parties agree to compensation if one party terminates negotiations under specific circumstances

5. Intellectual Property Protection: Include when negotiations involve sharing of IP or creation of new IP during discussions

6. Non-Solicitation: Used when parties wish to prevent poaching of employees or clients during negotiations

7. Dispute Resolution: Optional detailed dispute resolution process for addressing conflicts during negotiation phase

Suggested Schedules

1. Schedule 1 - Authorized Representatives: List of authorized representatives from each party who will be involved in negotiations

2. Schedule 2 - Negotiation Timeline: Proposed timeline and key milestones for the negotiation process

3. Schedule 3 - Confidential Information: Specific listing of categories or types of confidential information to be protected

4. Appendix A - Communication Protocols: Details of agreed communication methods and protocols during negotiations

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Technology

Manufacturing

Financial Services

Real Estate

Healthcare

Energy

Mining

Agriculture

Retail

Telecommunications

Professional Services

Construction

Infrastructure

Education

Transportation and Logistics

Relevant Teams

Legal

Corporate Development

Business Development

Executive Leadership

Finance

Compliance

Risk Management

Strategy

Mergers & Acquisitions

Commercial Operations

Investment

Corporate Affairs

Relevant Roles

Chief Executive Officer

Managing Director

Chief Legal Officer

General Counsel

Legal Counsel

Business Development Director

Chief Financial Officer

Commercial Director

Head of Strategy

Mergers & Acquisitions Director

Investment Manager

Corporate Development Manager

Senior Legal Advisor

Compliance Officer

Risk Manager

Company Secretary

Industries
Contract and Commercial Law Act 2017: This is the primary legislation governing contract formation, interpretation, and enforcement in New Zealand. It consolidates various commercial laws and is essential for establishing the basic framework of the pre-negotiation agreement.
Fair Trading Act 1986: This Act prohibits misleading and deceptive conduct in trade. It's relevant for ensuring that any representations made during pre-negotiation discussions are accurate and not misleading.
Privacy Act 2020: Given that pre-negotiation agreements often involve sharing sensitive business information, this Act is crucial for governing how personal and business information must be handled and protected.
Electronic Transactions Act 2002: If the pre-negotiation agreement is to be executed electronically, this Act governs the validity of electronic signatures and electronic communications.
Contractual Remedies Act 1979: Although now part of the Contract and Commercial Law Act 2017, the principles from this Act are crucial for understanding remedies available if there's a breach of the pre-negotiation agreement.
Contractual Mistakes Act 1977: Also now part of the Contract and Commercial Law Act 2017, these provisions are important for addressing any mistakes that might occur during the pre-negotiation phase.
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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