
Mutual Non-Disclosure Agreement
This Agreement is made on [EFFECTIVE DATE] between:
[DISCLOSING PARTY] (“Party A”); and [RECEIVING PARTY] (“Party B”), each of whom may disclose Confidential Information to the other.
1. Confidential Information
“Confidential Information” means any information disclosed by one party to the other, in any form, that is identified as confidential or that a reasonable person would understand to be confidential given its nature or the circumstances of disclosure.
It includes business plans, financial information, customer and supplier information, pricing, technical information, know-how, designs and processes, whether or not marked as confidential.
2. What is not Confidential Information
Confidential Information does not include information that: (a) is or becomes publicly available other than through a breach of this Agreement; (b) was already lawfully known to the receiving party without an obligation of confidence; (c) is rightfully received from a third party who is free to disclose it; or (d) is independently developed without use of or reference to the other party's Confidential Information.
3. Purpose
The Confidential Information is disclosed solely for the following purpose: [PURPOSE OF DISCLOSURE] (the “Purpose”).
Each party may use the other party's Confidential Information only for the Purpose. Any other use is a breach of this Agreement.
4. Obligations
Each party shall keep the other party's Confidential Information confidential and shall not disclose it to any third party without prior written consent.
Each party shall protect the Confidential Information using at least the measures it applies to its own confidential information of similar importance, and in no case less than reasonable measures.
5. Permitted recipients
each party may disclose Confidential Information to its employees, officers and professional advisers who need to know it for the Purpose, provided that each of them is bound by confidentiality obligations no less protective than those in this Agreement. Each party remains responsible for any breach by those recipients.
6. Disclosure required by law
A party may disclose Confidential Information to the extent required by law, regulation or an order of a court or competent authority, provided that, where lawfully permitted, it gives the other party reasonable prior notice so that the other party may seek protective relief.
7. Permitted disclosures
Nothing in this Agreement prevents or restricts any person from reporting an offence or suspected offence to a law enforcement agency or regulator, from co-operating with any investigation by a competent authority, or from making any disclosure required or protected by law.
8. Term and survival
This Agreement takes effect on [EFFECTIVE DATE] and continues until terminated by either party on written notice.
The obligations of confidentiality in this Agreement survive termination and continue for 3 years from the date of disclosure.
9. Return or destruction
On written request, each party shall promptly return or destroy all materials containing the other party's Confidential Information and confirm in writing that it has done so. This does not require the deletion of copies held in routine backup or archival systems, or copies a party must retain by law, which remain subject to this Agreement for as long as they are retained.
10. No licence and no warranty
Nothing in this Agreement transfers or grants any right, title, interest or licence in the Confidential Information or in any intellectual property. All Confidential Information remains the property of the party that disclosed it.
Confidential Information is provided as is. Neither party warrants that it is accurate or complete, and neither party is obliged to enter into any further agreement or transaction as a result of this Agreement.
11. Remedies
The parties agree that damages alone may not be an adequate remedy for a breach of this Agreement, and that the party affected may seek injunctive relief under the Specific Relief Act, 1963, in addition to any other remedy available to it.
12. General
If any provision of this Agreement is held to be invalid or unenforceable, that provision shall be severed and the remainder shall continue in full force.
This Agreement contains the entire agreement between the parties on its subject matter and supersedes all prior discussions. It may be signed in counterparts, including by electronic signature, each of which is an original and which together form one agreement.
13. Governing law and jurisdiction
This Agreement is governed by the laws of India. The parties submit to the exclusive jurisdiction of the courts at [JURISDICTION], India.