General purpose NDA that is enforced for 3 years after a 30 days prior written notice have been received.
This NON-DISCLOSURE AGREEMENT is made and entered into as of Date, by and between Company, with its principal place of business at Location, on its own behalf, and on behalf of its subsidiaries, and
External Party; both shall be collectively be called the “Parties”.
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:
1. Purpose. The Company and External Party wish to discuss a potential business opportunity under which each may disclose its Confidential Information to the other.
2. Definition. “Confidential Information” means any information, technical data or
know-how, including, but not limited to, that which relates to research, products, services,
customers, markets, software, developments, inventions, processes, designs, drawings,
engineering, marketing or finances, disclosed orally or in written or electronic form, and which is
marked or identified by the disclosing party as "proprietary" or “confidential”. Confidential
Information does not include information, technical data or know-how which
(i) is in the possession of the receiving party at the time of disclosure as shown by the receiving
party’s files and records immediately prior to the time of disclosure; or (ii) prior or after the time
of disclosure becomes part of the public knowledge or literature, not as a result of any inaction or
action of the receiving party, (iii) is approved for release by the disclosing party, or (iv) is
independently developed by the receiving party without the use of any Confidential Information
of the other party.
3. Non-Disclosure of Confidential Information. The Company and External Party each
agree not to use the Confidential Information disclosed to it by the other party for its own use or
for any purpose except to carry out discussions concerning and the undertaking of any business
relationship between the two. The recipient of Confidential Information will not disclose such
Confidential Information to anyone, including to their employees; however, the recipient of
Confidential Information may disclose such information to certain employees who are
required to have the such information to carry out the contemplated business. Each has
had or will have employees to whom Confidential Information of the other is disclosed sign a
Non-Disclosure Agreement in content substantially similar to this Agreement and will notify the
other in writing of the names of the persons who have had access to Confidential Information of
the other party. Each agrees that it will take all reasonable steps to protect the secrecy of and
avoid disclosure or use of Confidential Information of the other in order to prevent it from falling
into the public domain or the possession of unauthorized persons. Each agrees to notify the
other in writing of any misuse or misappropriation of Confidential Information of the other that
may come to its attention.
4. Ownership. All Confidential Information shall remain the exclusive property of
Disclosing Party, and Recipient shall have no right to use Confidential Information except as
provided herein. No patent, copyright, trademark or other proprietary right or license is conveyed
by this Agreement with respect to Confidential Information.
5. Return of Materials. Any materials or documents which have been furnished by one
party to the other will be promptly returned, accompanied by all copies of such documentation,
after the business possibility has been rejected or concluded.
6. Intellectual Property Rights. Nothing in this Agreement is intended to grant any rights
under any patent or copyright of either party, nor shall this Agreement grant either party any
rights in or to the other party’s Confidential Information, except the limited right to review such
Confidential Information solely for the purposes of determining whether to enter into the
proposed business relationship between the parties and in carrying out such relationship. The
disclosing party warrants that it has the right to disclose its Confidential Information to the
receiving party. Otherwise, all information is provided “as is” and without any warranty,
express, implied or otherwise, regarding its accuracy or performance.
7. Independent Development. Each disclosing party understands that the receiving party
may currently or in the future be developing information internally, or receiving information
from other parties that may be similar to the disclosing party’s Confidential Information.
Accordingly, nothing in this Agreement shall be construed as a representation or inference that
the receiving party will not develop products, or have products developed for it, that compete
with the products or systems contemplated by the disclosing party’s Confidential Information.
8. Term. This Agreement may be terminated at all times with a 30 days prior written
notice; provided however, that the confidentiality obligations herein shall terminate 3 years
following the date of termination of this Agreement.
9. Miscellaneous. This Agreement shall be binding upon and for the benefit of the
undersigned parties, their successors and assigns, provided that Confidential Information may
not be assigned without consent of the disclosing party. Failure to enforce any provision of this
Agreement shall not constitute a waiver of any term hereof. This Agreement shall be governed
by and construed and enforced in accordance with the laws of the Commonwealth of Virginia of
the United States of America as they apply to contracts. The federal and state courts within the
Commonwealth shall have exclusive jurisdiction to adjudicate any dispute arising out of this
10. Remedies. Each party agrees that its obligations hereunder are necessary and
reasonable in order to protect the other party and the other party’s business, and expressly agrees
that monetary damages would be inadequate to compensate the other party for any breach of any
covenant or agreement set forth herein. Accordingly, each party agrees and acknowledges that
any such violation or threatened violation will cause irreparable injury to the other party and that,
in addition to any other remedies that may be available, in law, at equity or otherwise, the other
party shall be entitled to obtain injunctive relief against the threatened breach of the Agreement
or the continuation of any such breach, without the necessity of proving actual damages.
11. Notices. All notices hereunder shall be sent to either party at the address and to the
contact person specified below, or such other address or contact person as the respective party
may specify from time to time in accordance with the provisions of this Agreement.
IN WITNESS WHEREOF, each of the parties has signed this Mutual Non-Disclosure
Agreement as of the date first above written.
External Party: External Party