Mutual NDA (Business) by Verified Lawyer
This Nondisclosure Agreement template was created by a verified lawyer on ContractsCounsel. Available for instant download, this editable document is designed to help you easily customize your Nondisclosure Agreement for your specific needs. You also have the option to hire the lawyer who drafted the template for additional review or customization.
Template Price:
$29
As an attorney with over a decade of practical legal experience, I created this Mutual Non-Disclosure Agreement (NDA) template for use in various business transactions and engagements.
Overview of the Mutual NDA (Business) Template
For context, an NDA is a binding contractual agreement that requires the signing parties to keep specific types of information confidential. A Mutual NDA is often used when both parties involved in a transaction want to protect the confidentiality of certain information.
When someone signs an NDA and subsequently receives confidential information, the NDA serves as a memorialized record expressly agreeing that the parties will not reveal or share confidential information to any unauthorized individual, or organization. If the recipient of confidential information violates the NDA by failing to retain the private-nature of the information, then there may be grounds for you to pursue damages through a lawsuit.
What Is Included in the Mutual NDA Template
My mutual NDA template is customizable to your particular business transaction. The mutual NDA template is helpful since it provides guidance on what elements need to be incorporated into the agreement and offers tips on how to craft certain provisions. For example, the mutual NDA template devotes a section to identifying the parties involved in the transaction and sets forth the importance of preventing the unauthorized disclosure of confidential information. The template contains a modifiable section that specifically defines what is considered confidential information, along with a modifiable section that allows you to identify types of non-confidential information.
The mutual NDA template sets forth the obligations of the party that receives confidential information, such as an affirmative requirement to protect and safeguard the confidentiality of the Disclosing Party's confidential information, an affirmative requirement to not disclose confidential information to other individuals or entities, and so forth. The template mutual NDA also provides clear instructions for the return or destruction of confidential information.
The mutual NDA template describes the remedies that may be pursued, in the event the receiving party breaches the NDA, along with the term (i.e. timeframe) of the NDA. The template mutual NDA also contains important legal provisions such as the relationship between the parties, the fact that no warranties or representations are made as a result of the NDA, the relevant state law that will govern the terms of the NDA, and stipulations for assigning the agreement.
The mutual NDA also contains a severability clause, which is helpful since the clause sets forth that, in the event any provision of this Agreement is held by a court of other tribunal of competent jurisdiction to be unenforceable, that provision will be enforced to the maximum extent permissible under applicable law, and the other provisions of this Agreement will remain in full force and effect.
Who Should Use the Template Mutual NDA
The mutual NDA template can be used in a variety of situations. Nevertheless, this particular template is best suited in the context of a business relationship or transaction where confidential information is being shared between the parties.
Benefits of Using the Mutual NDA Template
There are many benefits associated with a mutual NDA. For example, an NDA can help legally protect trade secrets and other proprietary information, it can help establish trust and candor between the parties, it can prevent the theft of intellectual property, it can provide evidence of the other party's contractual obligation to keep certain information confidential, and it helps memorialize the confidential nature of the information described in the NDA.
If your mutual NDA is breached, you may need to consider pursuing litigation. If that situation arises, having an experienced lawyer by your side can pay dividends. My legal services are available.
Clauses include:
- Confidential Information
- Exclusions from Confidential Information
- Obligations of Receiving Party
- Return or Destruction of Confidential Information
- Remedies
- Term
- Relationship
- No Warranties or Representations
- Waiver
- Severability
- Governing Law
- Entire Agreement
- Assignment
- Headings
- Counterparts
Please note that using this templates does not constitute legal advise or establish an attorney-client relationship. These templates are intended for general informational purposes only, and may not be suitable for all specific legal needs. We strongly recommend counslting with licenced attorney for any legal advice pertaining to your situation. Unless you have representation from a attorney, you are representing yourself in any legal matter undertaken using our templates.
About the Lawyer Selling this Template
Ashley H.
More than just a lawyer. I get things done! I am entrepreneurial and solution oriented, highly efficient and knowledgable. My goal is to help clients grow and protect their assets. I achieve this primarily through entity formation, contracts, and intellectual property protection and enforcement. I have over 10 years experience providing general counsel, in the form practical and timely legal advice, under strict deadlines to individuals and various business unit stakeholders, balancing commercial needs with legal concerns at large corporations and start-ups. I am skilled at reviewing, analyzing, drafting and negotiating entertainment, influencer, and commercial and government contracts globally for the procurement and sale of services and goods as well as technology contracts. I also help clients ensure compliance with regulations (including data privacy), laws and contractual obligations and protect, enforce and exploit intellectual property rights and support in the development of IP strategy. I am a Certified Information Privacy Professional/United States (CIPP/US) licensed by the IAPP - International Association of Privacy Professionals. We also have a New Jersey licensed attorney at the firm, generally billing at $299/hour.
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