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Bilateral NDA

Bilateral NDA Template for Nigeria

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Key Requirements PROMPT example:

Bilateral NDA

"I need a Bilateral NDA under Nigerian law for a potential joint venture between my tech company and a software development firm, with specific provisions for protecting source code and technical specifications, to be effective from January 2025."

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Document background
This Bilateral NDA is essential for businesses and individuals operating under Nigerian law who need to protect confidential information during business discussions, negotiations, or collaborative ventures. The document is particularly relevant in today's business environment where information sharing is crucial but must be properly protected. It ensures compliance with Nigerian legislation, including the Contract Act, Data Protection Regulation 2019, and relevant intellectual property laws. The agreement is structured to provide mutual protection for both parties, making it suitable for situations where both sides will be sharing sensitive information. Common uses include business negotiations, joint ventures, potential mergers or acquisitions, consulting arrangements, and other professional relationships where proprietary or sensitive information needs to be shared.
Suggested Sections

1. Parties: Identification and details of both parties entering into the NDA

2. Background: Context of the agreement and purpose for sharing confidential information

3. Definitions: Definitions of key terms, especially 'Confidential Information', 'Permitted Purpose', and other important concepts

4. Confidentiality Obligations: Core obligations regarding non-disclosure and protection of confidential information

5. Permitted Disclosures: Circumstances under which confidential information may be disclosed

6. Information Protection Measures: Specific measures required to protect confidential information

7. Return or Destruction of Information: Requirements for handling confidential information upon termination

8. Duration and Termination: Term of the agreement and termination provisions

9. Breach and Remedies: Consequences of breach and available remedies

10. General Provisions: Standard contract clauses including governing law, jurisdiction, and entire agreement

Optional Sections

1. Intellectual Property Rights: Section clarifying ownership of IP rights when confidential information includes intellectual property

2. Data Protection Compliance: Additional provisions when confidential information includes personal data under Nigerian Data Protection Regulation

3. Non-Competition: Optional restrictions on competitive activities, if relevant to the business relationship

4. Representatives and Employees: Specific provisions for handling disclosure to employees and representatives

5. Publicity and Announcements: Restrictions on public announcements about the relationship

6. Insurance Requirements: Requirements for insurance coverage related to information handling

7. Force Majeure: Provisions for handling confidentiality during force majeure events

Suggested Schedules

1. Schedule 1 - Description of Confidential Information: Detailed list or categories of information covered by the NDA

2. Schedule 2 - Authorized Representatives: List of authorized individuals who may receive confidential information

3. Schedule 3 - Security Protocols: Specific security measures and protocols for handling confidential information

4. Appendix A - Form of Acknowledgment: Template for acknowledgment by employees or third parties who will access confidential information

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions



























Clauses
























Relevant Industries

Technology

Healthcare

Financial Services

Manufacturing

Professional Services

Energy and Resources

Telecommunications

Research and Development

Consumer Goods

Education

Real Estate

Media and Entertainment

Biotechnology

Construction

Retail

Relevant Teams

Legal

Executive Leadership

Human Resources

Business Development

Research and Development

Information Technology

Finance

Operations

Procurement

Compliance

Corporate Strategy

Innovation

Product Development

Marketing

Partnerships

Relevant Roles

Chief Executive Officer

Business Development Manager

Legal Counsel

Chief Technology Officer

Human Resources Director

Project Manager

Research Director

Chief Financial Officer

Operations Manager

Procurement Manager

Investment Analyst

Strategic Partnership Director

Intellectual Property Manager

Compliance Officer

Innovation Director

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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