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Business Purchase Non Disclosure Agreement

Business Purchase Non Disclosure Agreement Template for New Zealand

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Key Requirements PROMPT example:

Business Purchase Non Disclosure Agreement

"I need a Business Purchase Non Disclosure Agreement for a potential sale of my technology startup in New Zealand, with specific provisions for protecting source code and customer data, and including non-solicitation clauses for my development team."

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Document background
The Business Purchase Non Disclosure Agreement is essential when a business owner is considering selling their business and needs to share confidential information with potential purchasers. This document, governed by New Zealand law, is typically used at the initial stages of business sale discussions, before detailed negotiations commence. It protects sensitive information including financial data, customer lists, trade secrets, operational procedures, and employee information. The agreement ensures compliance with New Zealand's privacy and commercial laws while facilitating necessary due diligence processes. It should be executed before any substantial business information is shared with potential purchasers or their advisors.
Suggested Sections

1. Parties: Identifies the disclosing party (typically the business seller), receiving party (potential purchaser), and any guarantors

2. Background: Sets out the context of the potential business purchase and the need for confidential information exchange

3. Definitions: Defines key terms including 'Confidential Information', 'Permitted Purpose', 'Representatives', and 'Business'

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

5. Permitted Purpose and Disclosure: Specifies allowed uses of confidential information and permitted recipients

6. Security Measures: Required procedures for protecting and securing confidential information

7. Return or Destruction of Information: Requirements for handling confidential information after discussions end

8. Duration of Obligations: Specifies how long confidentiality obligations remain in force

9. Breach and Remedies: Consequences of breaching the agreement and available remedies

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

Optional Sections

1. Non-Solicitation: Prevents approaching employees or customers, used when business relationships are particularly sensitive

2. Exclusivity Period: Provides exclusive negotiation rights, included when seller agrees not to discuss sale with other parties

3. Privacy Compliance: Additional provisions for compliance with Privacy Act 2020, used when personal information is involved

4. Intellectual Property Rights: Specific provisions protecting IP, used when significant IP assets are involved

5. Press Releases and Announcements: Controls public communications, important for listed companies or sensitive transactions

6. Representatives' Undertaking: Required when representatives need to sign separate confidentiality undertakings

Suggested Schedules

1. Schedule 1 - Confidential Information: Lists categories and types of confidential information to be disclosed

2. Schedule 2 - Authorized Representatives: Names and roles of personnel authorized to receive confidential information

3. Schedule 3 - Security Protocols: Detailed security measures and procedures for handling confidential information

4. Appendix A - Form of Representative's Undertaking: Template confidentiality undertaking for representatives to sign

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

Retail

Manufacturing

Technology

Professional Services

Healthcare

Hospitality

Construction

Agriculture

Financial Services

Education

Real Estate

Transport and Logistics

Media and Entertainment

Mining and Resources

Relevant Teams

Legal

Finance

Corporate Development

Mergers & Acquisitions

Executive Leadership

Risk and Compliance

Business Development

Strategy

Investment Banking

Due Diligence

Relevant Roles

Chief Executive Officer

Managing Director

Business Owner

Corporate Lawyer

General Counsel

Chief Financial Officer

Investment Banker

Business Broker

Mergers & Acquisitions Director

Due Diligence Manager

Commercial Director

Business Development Manager

Private Equity Manager

Corporate Development Director

Risk Manager

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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