The Confidentiality Agreement Between Two Companies is a critical legal document used when businesses need to share sensitive information while maintaining its confidentiality. This agreement, governed by Nigerian law, is typically employed during business negotiations, due diligence processes, joint ventures, or potential commercial partnerships. It defines what constitutes confidential information, establishes the obligations of the receiving party, and provides legal remedies under Nigerian jurisdiction if confidentiality is breached. The document is essential for protecting trade secrets, proprietary information, customer data, and other sensitive business information, particularly given Nigeria's growing business environment and the increasing importance of data protection. It incorporates requirements from relevant Nigerian legislation, including the Nigeria Data Protection Regulation 2019 and the Freedom of Information Act 2011.
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1. Parties: Identification of both companies including full registered names, registration numbers, and registered addresses
2. Background: Context of the agreement and the purpose for sharing confidential information
3. Definitions: Detailed definitions including 'Confidential Information', 'Representatives', 'Permitted Purpose', and other key terms
4. Scope of Confidential Information: Detailed description of what constitutes confidential information under the agreement
5. Obligations of Confidentiality: Core confidentiality obligations and standard of care required
6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including to employees, advisors, or as required by law
7. Protection and Security Measures: Specific measures required to protect confidential information
8. Return or Destruction of Confidential Information: Obligations regarding the return or destruction of confidential information upon request or termination
9. Duration and Survival: Term of the agreement and which obligations survive termination
10. Breach and Remedies: Consequences of breach and available remedies including injunctive relief
11. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes
12. Entire Agreement: Standard boilerplate confirming this is the complete agreement between parties
13. Execution: Signature blocks and execution requirements
1. Non-Competition: Restrictions on competitive activities - include when there's a risk of competitive use of information
2. Non-Solicitation: Restrictions on soliciting employees or customers - include when sharing information about human resources or customer lists
3. Data Protection Compliance: Specific provisions for compliance with Nigerian Data Protection Regulation - include when personal data is involved
4. Intellectual Property Rights: Clarification of IP ownership and rights - include when sharing technical information or innovations
5. Export Control: Compliance with export control laws - include when dealing with technical data or international transfers
6. Force Majeure: Provisions for unforeseen circumstances - include when long-term information sharing is contemplated
7. Assignment and Succession: Rights to assign the agreement - include when dealing with large corporations likely to undergo restructuring
8. Third Party Rights: Rights of third parties under the agreement - include when affiliates or group companies are involved
1. Schedule 1 - Detailed Description of Confidential Information: Comprehensive list or categories of information covered by the agreement
2. Schedule 2 - Authorized Representatives: List of individuals authorized to receive and handle confidential information
3. Schedule 3 - Security Protocols: Detailed security measures and protocols for handling confidential information
4. Schedule 4 - Permitted Purpose Details: Detailed description of the specific purpose for which confidential information may be used
5. Appendix A - Form of Confidentiality Undertaking: Template confidentiality undertaking for employees or representatives who will access the information
Relevant legal definitions
Clauses
Relevant Industries
Technology
Manufacturing
Financial Services
Healthcare
Energy and Oil & Gas
Telecommunications
Professional Services
Real Estate
Construction
Agricultural Business
Pharmaceutical
Mining
Consumer Goods
Media and Entertainment
Education
Relevant Teams
Legal
Compliance
Executive Leadership
Business Development
Research and Development
Information Technology
Finance
Operations
Procurement
Corporate Affairs
Risk Management
Information Security
Strategy
Human Resources
Mergers and Acquisitions
Relevant Roles
Chief Executive Officer
Managing Director
Chief Legal Officer
General Counsel
Business Development Manager
Chief Financial Officer
Chief Technology Officer
Project Manager
Research and Development Director
Commercial Director
Chief Operations Officer
Company Secretary
Head of Compliance
Procurement Manager
Strategic Partnership Manager
Investment Manager
Chief Information Security Officer
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