The Sales Confidentiality Agreement is essential for protecting sensitive business information during sales negotiations and transactions in the Philippines. This document is typically used when parties need to share confidential information for potential sales, mergers, acquisitions, or strategic partnerships. It ensures compliance with Philippine regulations, including the Data Privacy Act of 2012, the Civil Code, and the Intellectual Property Code. The agreement covers various types of confidential information such as financial data, customer lists, pricing strategies, and trade secrets. It's particularly important in the Philippine business context where relationship-building and due diligence often require substantial information sharing before formal transactions are concluded.
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1. Parties: Identifies and provides full details of all parties to the agreement, including registered addresses and company registration numbers
2. Background: Explains the context of the agreement, including the nature of the business relationship and purpose of sharing confidential information
3. Definitions: Defines key terms used in the agreement, particularly 'Confidential Information', 'Permitted Purpose', and 'Representatives'
4. Scope of Confidentiality: Details what information is considered confidential and covered by the agreement
5. Obligations of Confidentiality: Sets out the receiving party's duties to protect and maintain confidentiality of the information
6. Permitted Disclosures: Specifies circumstances under which confidential information may be disclosed and to whom
7. Security Measures: Outlines required security protocols for handling and storing confidential information
8. Return or Destruction of Information: Procedures for handling confidential information upon termination or request
9. Duration and Survival: Specifies the term of the agreement and which obligations survive termination
10. Breach and Remedies: Details consequences of breach and available remedies including injunctive relief
11. Governing Law and Jurisdiction: Specifies Philippine law as governing law and defines jurisdiction for dispute resolution
1. Data Privacy Compliance: Additional section when personal data is involved, ensuring compliance with the Data Privacy Act of 2012
2. Digital Security Measures: Specific provisions for digital information protection when confidential information is stored or transmitted electronically
3. Third Party Rights: Include when confidential information may belong to or affect rights of third parties
4. Non-Solicitation: Optional restraint on soliciting employees or customers, if relevant to the business relationship
5. Publicity and Announcements: Controls on public statements about the business relationship when needed
6. Insurance Requirements: Specific insurance obligations for high-value or high-risk confidential information
7. Audit Rights: Right to audit compliance with confidentiality obligations for highly sensitive information
1. Schedule 1 - Specified Confidential Information: Detailed list or categories of confidential 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 procedures and requirements for handling confidential information
4. Schedule 4 - Notification Requirements: Specific procedures for mandatory notifications in case of disclosure or breach
5. Appendix A - Data Processing Requirements: Detailed data handling requirements when personal data is involved
6. Appendix B - Return/Destruction Certificate: Template certificate for confirming return or destruction of confidential information
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Technology
Retail
Healthcare
Financial Services
Real Estate
Professional Services
Telecommunications
Energy
Consumer Goods
Industrial Products
Pharmaceuticals
Food and Beverage
Automotive
E-commerce
Relevant Teams
Legal
Sales
Business Development
Executive Leadership
Finance
Compliance
Corporate Development
Procurement
Operations
Risk Management
Commercial Operations
Strategic Planning
Mergers and Acquisitions
Relevant Roles
Chief Executive Officer
Sales Director
Business Development Manager
Legal Counsel
Chief Financial Officer
Sales Manager
Corporate Secretary
Compliance Officer
Commercial Director
Procurement Manager
Business Owner
Managing Director
Strategic Partnership Manager
Investment Manager
Operations Director
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