A non-disclosure agreement (NDA) is a legally binding contract between a provider and recipient of confidential material, knowledge or information (e.g. employer-employee, buyer-seller in potential mergers). It is an undertaking not to disclose such confidential information covered under the agreement.
An NDA is common in many corporate settings where sensitive information must necessarily be disclosed in the course of business, but at the same time, confidentiality of such disclosed information is essential.
Disclosing information regarded as confidential under an NDA constitutes a breach of contract for which the injured party can claim damages. It is therefore important to ensure that the NDA comprehensively covers all the confidential information that both parties to the agreement will be dealing with.
Template for Non-Disclosure Agreement
The following excerpt is taken from our NDA template (which you can purchase at the link below):
A. The Parties intends to disclose confidential information (“Confidential Information”) to the other party for the purpose of [Details of venture etc.] (“the Permitted Purpose”); and
B. The Parties wish to define herein the obligations of the Recipient with respect to the usage of Confidential Information which may be disclosed by the Company to the Recipient in connection with the Permitted Purpose.
Need an NDA template? You can get one here.
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For a guide to NDAs in Singapore, click here.
If you need help customising your NDA, feel free to get in touch with one of our corporate lawyers.