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NDA
NDA
AGREEMENT
BY AND BETWEEN
And
(Hereinafter both Disclosing Party and Receiving Party, individually refer to as ‘Party’ and
collectively refer to as ‘Parties’)
WHEREAS:
a. The Receiving Party hereby agrees and acknowledges that no license, either
express or implied, is hereby granted to the Receiving Party by the other
Party to use any of the Confidential Information.
b. The Receiving Party further agrees that all inventions, improvements,
copyrightable works and designs relating to written works, concepts, ideas,
plan or designs of the other Party directly resulting from or relating to the
Confidential Information and the right to market, use, license and franchise
the Confidential Information or the ideas, concepts, methods or practices
embodied therein shall be the exclusive property of the Disclosing Party,
and the Receiving Party has no right or title thereto.
9. LOSSES: The Receiving Party agrees to indemnify the Disclosing Party against
any and all losses, damages, claims, or expenses incurred or suffered by the
Disclosing Party as a result of the Receiving Party's breach of this Agreement.
10. TERMS AND TERMINATION: The term of this Agreement shall be Three (3)
years from the Effective Date; provided, however, in the event that Receiving
Party do not proceed with an offer which is the subject of this Agreement within a
reasonable time, Receiving Party shall promptly re-deliver to Disclosing Party all
written material or information and any other material containing or reflecting any
information of the business and will not retain any copies, extracts or other
reproductions of such written material. All documents, memoranda, notes and
other writings whatsoever prepared by Receiving Party or its advisers based on
the information in the Material shall also be returned to Disclosing Party unless
Disclosing Party agree that Receiving Party may be retained, in which case
Receiving Party shall be kept confidential and not used by them or given to any
third party for any purpose.
Upon the date of termination of this Agreement, all legal obligations, rights and
duties arising out of this Agreement shall terminate except for such legal
obligations, rights and duties as shall have accrued prior to the effective date of
termination and except as otherwise expressly provided in this Agreement.
12. NOTICES: All notices and other communication hereunder shall be in writing
and shall be deemed given if delivered personally or mailed by registered or
certified mail (return receipt requested) to the Parties at their addresses specified
in the introductory portion of this Agreement, or at any other address which a
Party might have specify in writing.
14. GENERAL: This Agreement constitutes the entire agreement between the parties
with respect to Confidential Information and supersedes all prior or
contemporaneous oral or written agreements concerning the same. This
Agreement may be modified or waived only by a written instrument duly signed
by both parties. This Agreement shall be binding on and inure to the benefit of the
parties hereto and their respective successors and permitted assigns. This
Agreement may not be assigned and any attempt to do so will be null and void.
Each party acknowledges that (i) any disclosure of Confidential Information in
violation of this Agreement would be detrimental to a Disclosing Party's business,
(ii) money damages would not be a sufficient remedy for breach of this
Agreement, and (iii) a Disclosing Party shall be entitled, without waiving any
other rights or remedies, to seek equitable relief, including injunctions.
Please read it carefully before signing. The undersigned (Receiving Party) agrees to the
terms of this Agreement and expressly acknowledges Reading, Understanding and
Receiving a Copy of this Document.
This Agreement expires 3 years from the date this Non-Disclosure Agreement is signed.