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Which type of NDA (mutual / unilateral) is used as a standard?
30-Nov-2023 (In Corporate Law)
The NDA we have is a mutual NDA. It uses the term "parties" a lot meaning that we the company will also be under some obligations here. But if the NDA is for employment or internship, why does it have to be a mutual NDA? Shouldn't it be a unilateral NDA?
NDAs will almost always put on the Receiving Party an obligation to protect the Disclosing Party’s information in the same way it protects its own. That’s the unilateral agreement.
With this in mind, before you draft your own mutual agreement or you enter into one, consider:
Whether you have written policies and procedures in place to safeguard confidential information that you’ll disclose
Whether you’re clear on what will be considered confidential information and how it will be identified
Whether your employees are up to speed on these safeguarding requirements
Other considerations you need to make before deciding what type of agreement you need:
What kind of business is being discussed? Some arrangements, like mergers and acquisitions, joint ventures, and teaming agreements will more likely involve mutual information exchanges etc.
With this in mind, before you draft your own mutual agreement or you enter into one, consider:
Whether you have written policies and procedures in place to safeguard confidential information that you’ll disclose
Whether you’re clear on what will be considered confidential information and how it will be identified
Whether your employees are up to speed on these safeguarding requirements
Other considerations you need to make before deciding what type of agreement you need:
What kind of business is being discussed? Some arrangements, like mergers and acquisitions, joint ventures, and teaming agreements will more likely involve mutual information exchanges etc.
Helpful?
Adv. Shivali Sharma
Bhopal | 25+ Answers
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