Review of Confidentiality Agreement (Non-disclosure Agreement)
Article posted in | VEAT
Generally, Non-disclosure Agreements (NDAs) are concluded before companies proceed with joint ventures or initiate transactions that significantly impact company management, such as investments or M&A.
The obligations of both parties defined in the NDA need to be sufficient to protect each other's secrets acquired through business operations, but should not excessively restrict the other party’s use of information, leading to an unfavorable contract for one party. It is also common to find NDAs stipulating that one party must disclose trade secrets necessary for business operations to the other party, but the other party fails to properly disclose those trade secrets.
Law firm Veat reviewed and provided revision opinions regarding provisions for the disclosure of trade secrets that were disadvantageous to the client company, as well as provisions regarding damages and jurisdiction and governing law in the event of a dispute, and the client company renegotiated those contents with the other party, enabling them to sign the NDA with conditions that satisfied both parties.
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Law firm Veat