This Reciprocal Non Disclosure Agreement is essential for businesses and organizations planning to engage in discussions, negotiations, or collaborations where confidential information needs to be shared. The document is specifically structured to comply with Austrian legal requirements and EU regulations, making it suitable for use within Austria and in cross-border situations involving Austrian entities. It provides comprehensive protection for trade secrets, intellectual property, and sensitive business information, while ensuring GDPR compliance for personal data handling. The agreement is particularly valuable during initial business discussions, due diligence processes, joint ventures, or any situation where mutual exchange of confidential information is necessary. It includes specific provisions for data security, permitted uses, and obligations of both parties to maintain confidentiality.
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1. Parties: Identification of both parties entering into the NDA, including full legal names, registration numbers, and registered addresses
2. Background: Context of the agreement and purpose of sharing confidential information
3. Definitions: Definitions of key terms, especially 'Confidential Information', 'Trade Secrets', 'Permitted Purpose', and 'Authorized Recipients'
4. Scope of Confidential Information: Detailed description of what constitutes confidential information under the agreement
5. Obligations of Confidentiality: Core mutual obligations regarding handling and protecting confidential information
6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including to employees, advisors, or as required by law
7. Data Protection and GDPR Compliance: Specific provisions relating to personal data handling and GDPR requirements
8. Security Measures: Required security measures for protecting confidential information
9. Return or Destruction of Confidential Information: Procedures for handling confidential information upon termination or request
10. Term and Termination: Duration of the agreement and termination provisions
11. Survival of Obligations: Specification of obligations that continue after termination
12. Governing Law and Jurisdiction: Confirmation of Austrian law governance and jurisdiction for disputes
13. Entire Agreement: Standard boilerplate confirming this is the complete agreement between parties
14. Execution: Signature blocks and execution details
1. Intellectual Property Rights: Additional provisions regarding IP rights when the confidential information includes patents, trademarks, or other IP - include when IP is specifically involved
2. Non-Solicitation: Prevents parties from soliciting each other's employees or clients - include when business relationship involves exposure to key personnel or clients
3. Specific Project References: Details about specific projects or transactions - include when NDA is project-specific
4. International Transfer of Data: Provisions for international data transfers - include when parties are from different countries or data will cross borders
5. Competitive Restrictions: Additional provisions preventing competitive activities - include when sharing particularly sensitive market information
6. Force Majeure: Provisions for unforeseeable circumstances - include when long-term collaboration is expected
7. Insurance Requirements: Specific insurance requirements for handling confidential information - include when dealing with highly sensitive or valuable information
1. Schedule 1 - Designated Representatives: List of authorized representatives from each party who will handle confidential information
2. Schedule 2 - Security Protocols: Detailed security measures and protocols for handling confidential information
3. Schedule 3 - Specific Types of Confidential Information: Detailed categorization of different types of confidential information covered
4. Appendix A - Form of Confidentiality Undertaking: Template for confidentiality undertaking to be signed by employees or third parties
Authors
Relevant legal definitions
Clauses
Relevant Industries
Technology
Manufacturing
Healthcare
Financial Services
Professional Services
Research & Development
Biotechnology
Automotive
Energy
Telecommunications
Real Estate
Construction
Education
Pharmaceuticals
Consumer Goods
Industrial Equipment
Media & Entertainment
Software Development
Consulting
Retail
Relevant Teams
Legal
Business Development
Executive Leadership
Research and Development
Information Technology
Human Resources
Finance
Operations
Procurement
Strategy
Commercial
Innovation
Project Management
Investment
Corporate Development
Information Security
Risk Management
Compliance
Relevant Roles
Chief Executive Officer
Chief Legal Officer
Legal Counsel
Business Development Manager
Chief Technology Officer
Research Director
Project Manager
Innovation Manager
Partnership Manager
Procurement Manager
Chief Financial Officer
Operations Director
Human Resources Director
Investment Manager
Commercial Director
Head of Strategy
Chief Information Officer
Head of Research
Managing Director
Contract Manager
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