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Mutual Nondisclosure Agreement

Written by Gene Quinn
Patent Attorney & Founder of IPWatchdog
Widerman & Malek
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UPDATED: July 31, 2013

What follows below is a mutual confidentiality agreement. You may need to modify it to fit your unique circumstance, but this is a good template to follow. For other free, sample agreements please see Sample Confidentiality Agreements.

 

Terms & Conditions

The Agreement below is free and provided for your use as you see fit and at your discretion. It is intended to be and is more comprehensive than either of the Simple Confidentiality Agreements available for free through IPWatchdog.com, and is intended to be used when both parties wish to disclose confidential information. This Agreement was created by Gene Quinn, a patent attorney and founder of IPWatchdog.com. It was created for a particular situation and may not be appropriate for all users. You do, however, have the right to copy this Agreement and modify it as necessary to meet your needs and requirements.

While forms are commonly used and available elsewhere around the Internet it is important to understand the limitations provided by forms. A form, by its very nature, is previously written, usually to address a typical situation. Unfortunately, however, in law there are few typical situations. While this form will be useful for some, the use of a form cannot and does not supplant the need for competent legal advise adapted to your particular situation. IPWatchdog, Inc. and Gene Quinn personally accept no liability if you do use this or a modified version of this Agreement.

Please realize that IPWatchdog, Inc. will not be able to answer questions about what changes could or should be made to this agreement given your particular situation, nor can we answer questions about what various provisions mean. If you do need this type of assistance please feel free to contact us and we will endeavor to put you in contact with an attorney who can help you.

Copying or otherwise using the Confidentiality Agreement below signifies understanding and acceptance of theses Terms & Conditions.

Additional agreements are available at Confidentiality Agreements.




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Mutual Non-Disclosure Agreement

It is understood and agreed to that the parties to this Agreement would each like to provide the other with certain information that may be considered confidential. To ensure the protection of such information and in consideration of the agreement to exchange said information, the parties agree as follows:

1. The confidential information to be disclosed under this Agreement (“Confidential Information”) can be described as and includes:

Technical and business information relating to proprietary ideas, patentable ideas and/or trade secrets, existing and/or contemplated products and services, research and development, production, costs, profit and margin information, finances and financial projections, customers, clients, marketing, and current or future business plans and models, regardless of whether such information is designated as “Confidential Information” at the time of its disclosure.

In addition to the above, Confidential Information shall also include, and the parties shall have a duty to protect, other confidential and/or sensitive information which is (a) disclosed as such in writing and marked as confidential (or with other similar designation) at the time of disclosure; and/or (b) disclosed by in any other manner and identified as confidential at the time of disclosure and is also summarized and designated as confidential in a written memorandum delivered within thirty (30) days of the disclosure.

2. The parties shall use the Confidential Information only for the purpose of evaluating potential business, employment and/or investment relationships.

3. The parties shall limit disclosure of Confidential Information within its own organization to its directors, officers, partners, members and/or employees having a need to know and shall not disclose Confidential Information to any third party (whether an individual, corporation, or other entity) without prior written consent. The parties shall satisfy its obligations under this paragraph if it takes affirmative measures to ensure compliance with these confidentiality obligations by its employees, agents, consultants and others who are permitted access to or use of the Confidential Information.

4. This Agreement imposes no obligation upon the parties with respect to any Confidential Information (a) that was possessed before receipt; (b) is or becomes a matter of public knowledge through no fault of receiving party; (c) is rightfully received from a third party not owing a duty of confidentiality; (d) is disclosed without a duty of confidentiality to a third party by, or with the authorization of the disclosing party; or (e) is independently developed.

5. The parties warrant that they have the right to make the disclosures under this Agreement.

6. This Agreement shall not be construed as creating, conveying, transferring, granting or conferring upon either party any rights, license or authority in or to the information exchanged, except the limited right to use Confidential Information specified in paragraph 2. Furthermore and specifically, no license or conveyance of any intellectual property rights is granted or implied by this Agreement.

7. Neither party has an obligation under this Agreement to purchase any service, goods, or intangibles from the other party. Furthermore, both parties acknowledge and agree that the exchange of information under this Agreement shall not commit or bind either party to any present or future contractual relationship (except as specifically stated herein), nor shall the exchange of information be construed as an inducement to act or not to act in any given manner.

8. Neither party shall be liable to the other in any manner whatsoever for any decisions, obligations, costs or expenses incurred, changes in business practices, plans, organization, products, services, or otherwise, based on either party’s decision to use or rely on any information exchanged under this Agreement.

9. If there is a breach or threatened breach of any provision of this Agreement, it is agreed and understood that the non-breaching party shall have no adequate remedy in money or other damages and accordingly shall be entitled to injunctive relief; provided however, no specification in this Agreement of any particular remedy shall be construed as a waiver or prohibition of any other remedies in the event of a breach or threatened breach of this Agreement.

10. This Agreement states the entire agreement between the parties concerning the disclosure of Confidential Information and supersedes any prior agreements, understandings, or representations with respect thereto. Any addition or modification to this Agreement must be made in writing and signed by authorized representatives of both parties. This Agreement is made under and shall be construed according to the laws of the State of ___________________, U.S.A. In the event that this agreement, is breached, any and all disputes must be settled in a court of competent jurisdiction in the State of ____________________, U.S.A.

11. If any of the provisions of this Agreement are found to be unenforceable, the remainder shall be enforced as fully as possible and the unenforceable provision(s) shall be deemed modified to the limited extent required to permit enforcement of the Agreement as a whole.

WHEREFORE, the parties acknowledge that they have read and understand this Agreement and voluntarily accept the duties and obligations set forth herein.

Recipient of Confidential Information:

Name (Print or Type):

Company:

Title:

Address:

City, State & Zip:

Signature:

Date:

Discloser of Confidential Information:

Name (Print or Type):

Company:

Title:

Address:

City, State & Zip:

Signature:

Date:

About the Author

Eugene R. Quinn, Jr.
President & Founder of IPWatchdog, Inc.
US Patent Attorney (Reg. No. 44,294)
Widerman & Malek

B.S. in Electrical Engineering, Rutgers University
J.D., Franklin Pierce Law Center
L.L.M. in Intellectual Property, Franklin Pierce Law Center

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View Gene Quinn's profile on LinkedIn

Gene is a US Patent Attorney and the founder of IPWatchdog.com. Known by many as “The IPWatchdog.” Gene started the widely popular intellectual property website IPWatchdog.com in 1999, and since that time the site has had millions of unique visitors.Gene has been quoted in the Wall Street Journal, the New York Times, the LA Times, CNN Money and various other newspapers and magazines worldwide. He represents individuals, small businesses and start-up corporations. As an electrical engineer with a computer engineering focus his specialty is electronic and computer devices, Internet applications, software and business methods.