Confidentiality Agreements Notes
This is a sample of our (approximately) 5 page long Confidentiality Agreements notes, which we sell as part of the Private Acquisitions Notes collection, a Distinction package written at Cambridge And Oxilp And College Of Law in 2017 that contains (approximately) 339 pages of notes across 85 different documents.
The original file is a 'Word (Docx)' whilst this sample is a 'PDF' representation of said file. This means that the formatting here may have errors. The original document you'll receive on purchase should have more polished formatting.
Confidentiality Agreements Revision
The following is a plain text extract of the PDF sample above, taken from our Private Acquisitions Notes. This text version has had its formatting removed so pay attention to its contents alone rather than its presentation. The version you download will have its original formatting intact and so will be much prettier to look at.
CONFIDENTIALITY AGREEMENTS Why are Confidentiality Agreements needed?
1. Protect commercial position
ensures confidential information is only used in connection with the proposed purpose ("permitted purpose") ensures certainty and contractual remedies in the event of breach
2. Written down
Clarity of obligations Clarity of remedies Clarity of confidentiality
3. No statutory framework to protect confidential information
Both parties know where they stand. Do not have to rely on the equitable duty not to take advantage where you come into contact with confidential information and you knew or ought to know it was confidential information.
4. Keep the deal and its terms secret
prevent causing unrest with employees and third parties (such as suppliers and customers) which may disrupt Business. if the acquisition fell through, the terms on which S would be willing to sell would weaken their negotiating position with any other potential Bs.
5. Protect clients, customers and employees being solicited
There is no guarantee that breach will not occur Hard to monitor the information and any possible breaches. Money is unlikely to adequately replace damage to Business. Difficult to prove - how do you prove the other party is using the confidential information? Do they even know they're using it?
Injunction is of limited use - used after Breach and may be too late.
How else can the parties manage confidential information?
Restrict recipients Record of who has what, how many copies, and when it is to be handed back Process to record oral confidential information
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