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Mutual NDA Template

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Mutual NDA Template
This Agreement is made and entered into as of the last date signed below (the “Effective Date”) by and
between ___________________, a ___________ corporation having its principal place of business at
_______________ ("MyCompany") and __________________________, a ___________ corporation whose
principal mailing address is _______________________ (the "Second Party").
WHEREAS MyCompany and the Second Party (the “Parties”) have an interest in participating in
discussions wherein either Party might share information with the other that the disclosing Party considers to be
proprietary and confidential to itself (“Confidential Information”); and
WHEREAS the Parties agree that Confidential Information of a Party might include, but not be limited to
that Party’s: (1) business plans, methods, and practices; (2) personnel, customers, and suppliers; (3) inventions,
processes, methods, products, patent applications, and other proprietary rights; or (4) specifications, drawings,
sketches, models, samples, tools, computer programs, technical information, or other related information;
NOW, THEREFORE, the Parties agree as follows:
1. Either Party may disclose Confidential Information to the other Party in confidence provided that the
disclosing Party identifies such information as proprietary and confidential either by marking it, in the case of
written materials, or, in the case of information that is disclosed orally or written materials that are not marked, by
notifying the other Party of the proprietary and confidential nature of the information, such notification to be done
orally, by e-mail or written correspondence, or via other means of communication as might be appropriate.
2. When informed of the proprietary and confidential nature of Confidential Information that has been
disclosed by the other Party, the receiving Party (“Recipient”) shall, for a period of three (3) years from the date of
disclosure, refrain from disclosing such Confidential Information to any contractor or other third party without prior,
written approval from the disclosing Party and shall protect such Confidential Information from inadvertent
disclosure to a third party using the same care and diligence that the Recipient uses to protect its own proprietary
and confidential information, but in no case less than reasonable care. The Recipient shall ensure that each of its
employees, officers, directors, or agents who has access to Confidential Information disclosed under this Agreement
is informed of its proprietary and confidential nature and is required to abide by the terms of this Agreement. The
Recipient of Confidential Information disclosed under this Agreement shall promptly notify the disclosing Party of
any disclosure of such Confidential Information in violation of this Agreement or of any subpoena or other legal
process requiring production or disclosure of said Confidential Information.
3. All Confidential Information disclosed under this Agreement shall be and remain the property of the
disclosing Party and nothing contained in this Agreement shall be construed as granting or conferring any rights to
such Confidential Information on the other Party. The Recipient shall honor any request from the disclosing Party to
promptly return or destroy all copies of Confidential Information disclosed under this Agreement and all notes
related to such Confidential Information. The Parties agree that the disclosing Party will suffer irreparable injury if
its Confidential Information is made public, released to a third party, or otherwise disclosed in breach of this
Agreement and that the disclosing Party shall be entitled to obtain injunctive relief against a threatened breach or
continuation of any such breach and, in the event of such breach, an award of actual and exemplary damages from
any court of competent jurisdiction.
4. The terms of this Agreement shall not be construed to limit either Party’s right to develop independently or
acquire products without use of the other Party’s Confidential Information. The disclosing party acknowledges that
the Recipient may currently or in the future be developing information internally, or receiving information from
other parties, that is similar to the Confidential Information. Nothing in this Agreement will prohibit the Recipient
from developing or having developed for it products, concepts, systems or techniques that are similar to or compete
with the products, concepts, systems or techniques contemplated by or embodied in the Confidential Information
Mutual NDA Template