A Mutual Non-Disclosure Agreement is also known as a proprietary information agreement (PI), secrecy agreement (SA), confidential disclosure agreement (CDA) or confidentiality agreement (CA). It allows for both parties, which are contemplating coming together for a transaction or other business relationships to ensure that what they disclose in their dealings to the other, will be kept confidential.
This NDA (also called a bilateral NDA or two-way NDA) involves two parties where both parties anticipate disclosing information to one another that each intends to protect from further disclosure. This type of NDA is common when businesses are considering some kind of joint venture, business relationship or merger. A Mutual NDA is intended to protect both parties equally from the other disclosing confidential information that they provide.
Included in this Contract
- The names of the parties entering this agreement;
- What is generally defined as confidential information;
- What might reasonably be excluded from confidential information;
- The standard of care required by the recipient of confidential information;
- What the consequences are if confidential information is unlawfully disclosed;
- How long information is required to be kept confidential;
- A non-circumvention clause, prohibiting one party from by-passing the other, and directly contacting a third party which may have been introduced to the other in their dealings;
- Common boilerplate clauses.
How does it work?
When you start the questionnaire, you will be guided through each question with the helping hand of detailed explanations and additional information. Based on your answers, the Mutual NDA will be tailor-made by our system. If you log in or create an account, you can also save the progress of the questionnaire and come back later.
You will receive both a Word Doc and a PDF version of the document available for download and both copies of the template will be sent to you by email.
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Read more about Boilerplate Clauses – What Are They and Why Are They Important? Click here