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Bilateral NDA

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Bilateral NDA

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A Bilateral NDA is essential when two parties need to share confidential information with each other during business discussions, negotiations, or collaborative projects. This type of agreement is commonly used in situations ranging from potential mergers and acquisitions to joint venture discussions and technology licensing deals. The Bilateral NDA establishes clear obligations for both parties regarding the handling, use, and protection of confidential information, supported by U.S. federal and state laws. It typically includes definitions of confidential information, permitted uses, duration of confidentiality obligations, and requirements for information return or destruction.
Suggested Sections

1. Parties: Identification of both parties entering into the NDA, including legal names and addresses

2. Background/Recitals: Brief context explaining why the parties are entering into the NDA

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

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

5. Permitted Uses: Allowed uses of the confidential information

6. Term and Termination: Duration of the agreement and termination provisions

7. Return of Information: Obligations regarding return or destruction of confidential information

8. Governing Law: Jurisdiction and applicable law

Optional Sections

1. Non-Solicitation: Prevents parties from hiring each other's employees - used when sharing sensitive employee information or working closely with other party's staff

2. Residual Rights: Rights regarding retained knowledge - typically included in technology or innovation-focused agreements

3. Data Protection: Specific provisions for handling personal data - required when sharing personal or sensitive data

4. Export Control: Compliance with export control laws - included when sharing technology or technical data across borders

Suggested Schedules

1. Description of Confidential Information: Detailed list or categories of information covered by the agreement

2. Authorized Representatives: List of individuals authorized to receive confidential information

3. Security Protocols: Specific security measures required for handling 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

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

Federal Trade Secrets Laws: Key federal legislation including the Defend Trade Secrets Act (DTSA) of 2016 and Economic Espionage Act of 1996, which provide federal protection for trade secrets and confidential information

State Trade Secret Laws: State-level legislation including the Uniform Trade Secrets Act (UTSA) and state-specific variations that govern trade secret protection at the state level

Employment Law Considerations: State-specific employment laws regarding confidentiality, reasonable restrictions on employee mobility, and federally mandated whistleblower protection provisions

Contract Law Fundamentals: Basic contract law requirements including state-specific contract formation rules, consideration requirements, and Statute of Frauds provisions where applicable

Industry-Specific Regulations: Sector-specific regulations such as HIPAA for healthcare, Gramm-Leach-Bliley Act for financial services, and various technology/data protection laws

Intellectual Property Laws: Federal and state intellectual property legislation including the Patent Act and Copyright Act that may affect the handling of IP-related confidential information

Duration Requirements: Legal considerations regarding reasonable time limitations for confidentiality obligations and state-specific restrictions on duration of NDAs

Remedies and Enforcement: Legal framework for enforcement including state laws on liquidated damages, injunctive relief provisions, and jurisdiction requirements for enforcement

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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Bilateral NDA

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