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Non Disclosure Agreement Settlement Template for Malaysia

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Key Requirements PROMPT example:

Non Disclosure Agreement Settlement

"I need a Non Disclosure Agreement Settlement for my technology company to resolve a breach of confidentiality by a former contractor who shared our proprietary software code with competitors, including a settlement payment of RM 500,000 and permanent deletion of all materials."

Document background
This Non-Disclosure Agreement Settlement is designed for use in Malaysia when parties need to resolve disputes or issues arising from an existing NDA. It becomes necessary when there has been an alleged breach of confidentiality obligations, disagreements about the scope of confidential information, or other NDA-related disputes requiring formal resolution. The document incorporates Malaysian legal requirements, including provisions from the Contracts Act 1950 and Personal Data Protection Act 2010, making it suitable for both domestic and international parties operating within Malaysian jurisdiction. It typically includes detailed settlement terms, ongoing confidentiality obligations, mutual releases, and specific procedures for handling confidential information, providing a comprehensive framework for resolving NDA-related disputes while maintaining necessary confidentiality protections.
Suggested Sections

1. Parties: Identification of all parties to the settlement agreement, including full legal names and addresses

2. Background: Recitals explaining the context of the original NDA, the dispute or breach, and the intention to settle

3. Definitions: Definitions of key terms used in the agreement, including 'Confidential Information', 'Settlement Date', 'Original NDA', etc.

4. Settlement Terms: Details of the settlement including any payments, actions required, and mutual releases

5. Confidentiality Obligations: Reaffirmation or modification of existing confidentiality obligations and their duration

6. Return or Destruction of Confidential Information: Requirements and timeline for returning or destroying confidential materials

7. Release and Waiver: Mutual release of claims related to the disputed matters

8. Non-Admission of Liability: Statement that the settlement does not constitute admission of wrongdoing

9. Governing Law and Jurisdiction: Specification of Malaysian law as governing law and jurisdiction for disputes

10. Entire Agreement: Integration clause stating this document represents the entire agreement regarding the settlement

11. Execution: Signature blocks and execution requirements

Optional Sections

1. Third Party Rights: Include when the settlement affects rights of third parties or when third parties need to be explicitly excluded

2. Ongoing Business Relationship: Include when parties will continue to have business dealings after settlement

3. Public Statements: Include when there's a need to control public communications about the settlement

4. Insurance and Indemnification: Include when there are insurance claims or ongoing indemnification obligations

5. Survival of Original NDA Terms: Include when certain terms from the original NDA need to explicitly survive

6. Tax Implications: Include when settlement involves significant monetary compensation with tax consequences

Suggested Schedules

1. Schedule 1 - Original NDA: Copy or reference to the original NDA that is being settled

2. Schedule 2 - Settlement Payment Details: Detailed breakdown of any settlement payments, including payment schedule if applicable

3. Schedule 3 - Confidential Information: Specific listing of confidential information covered by the settlement

4. Schedule 4 - Destruction Certificate: Template certificate confirming destruction of confidential information

5. Schedule 5 - Related Agreements: List of any related agreements affected by or referenced in the settlement

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























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Relevant Industries

Technology

Manufacturing

Financial Services

Healthcare

Professional Services

Research & Development

Telecommunications

Energy

Biotechnology

Consumer Goods

Media & Entertainment

Relevant Teams

Legal

Compliance

Human Resources

Information Security

Risk Management

Executive Leadership

Corporate Affairs

Information Technology

Intellectual Property

Relevant Roles

Chief Executive Officer

Chief Legal Officer

Legal Counsel

Compliance Officer

Human Resources Director

Chief Information Security Officer

Chief Technology Officer

Intellectual Property Manager

Risk Management Officer

Business Development Director

Contract Manager

Corporate Secretary

Privacy Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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