Non Disclosure Agreement
Non Disclosure Agreement
Non Disclosure Agreement
I. Definition.
Confidential Information shall refer to any kind of information whether oral or written
made by or provided for by the Disclosing Party to the Receiving Party or vice versa.
It could be written or in oral communication that may refer to any patent, copyright,
trademark, or trade secret. The information under this agreement to be declared or
constituted as Confidential by the Disclosing Party, regardless of whether such
information was provided before or after the date of this Agreement shall be, but not
limited to the following:
6. Intellectual Property - This refers to all information creation of the mind such as
inventions, designs, symbols, names, and images created for commerce, such as but
not limited to logos, computer codes and algorithms both in human-readable and
machine-readable form, reports, technical designs, database structure, charts, and
other document design specifications, including music which may be subject to
copyright.
7. Technology - This refers to all technical and scientific information and materials
produced from formulation made by the Disclosing Party and by which information
has not been publicly used, including to use of any machine, appliance, or
components, including the documented scientific process.
II. Obligations.
The Receiving Party, upon acquiring the confidential information shall hold in trust
and confidence the information possessed by said party and shall not disclose it to any
other party or use it for its own benefit or any other without the consent of the
Disclosing Party.
The Receiving Party may not disassemble, decompile, or reverse engineer products,
prototypes, source codes, software, or any other objects that have been shared or
provided for by Disclosing Party's that may contain Confidential Information and that
are provided to the Receiving Party for purposes under this agreement.
The Receiving Party shall not likewise make copies, of said information unless
consent has been given by the Disclosing Party.
This clause shall survive and continue during and after the expiration or termination
of this Agreement.
2. Information received by the Receiving Party has already been known by the
Receiving Party prior to its disclosure;
3. The Confidential Information has been obtained by Receiving Party rightfully from
any other party other than the Disclosing Party and without reason to believe that the
third party is under any obligation or has an agreement with the Disclosing Party;
IV. Non-Compete.
During the effectivity and within Two (2) years after the expiration of this agreement,
the Receiving Party understands and agrees to not be involved directly or indirectly,
in activities that are in competition with the Disclosing Party.
V. Return of Confidential Information.
Upon termination of this Agreement and/or upon request of the Disclosing Party, all
Confidential Information disclosed under this Agreement shall be returned to the
Disclosing Party. Physical records, or any hardcopy material, print media, or any
other physical materials containing Confidential Information shall be delivered or
return to the Disclosing Party. Digital records shall be deleted and no copies shall be
retained by the Receiving Party.
VI. Ownership.
This Non Disclosure Agreement is not transferable. The written content of both
parties is needed in order to transfer this Agreement.
The Parties acknowledges that each party shall maintain its exclusive ownership over
its own Confidential Information except as otherwise falling under the found in the
Exclusions from Confidential Information clause.
Neither party may obtain rights whatsoever, by license or otherwise, in the other
party's Confidential Information unless otherwise with consent provided for by the
other party. Any recommendation of any information made by the Receiving Party to
the Disclosing Party that shall be incorporated to the Confidential Information of the
Disclosing Party shall form part of the Disclosing party's Confidential Information.
VII. Assignment.
Neither party may assign or delegate any of its rights, or delegate any of its
obligations hereunder, without the prior written consent of the other party.
VIII. General.
All additions or modifications to this Agreement must be made in writing and signed
by both parties. The effectivity date of this Agreement is the same as the execution
date.
IX. Warranties.
The Disclosing Party makes no representation or warranties whatsoever to the
Receiving Party as to the accuracy, completeness, or performance of any such
Confidential Information. No party shall become liable for the use of the Confidential
Information.
X. Injunctive Relief.
The Parties agree that in the event of any breach due to careless handling of the
Confidential Information, the aggrieved party shall be entitled to seek injunctive relief
for the protection of such party from incurring further damage or which may result to
an irreparable injury.
XI. Counterparts.
The Parties may execute this agreement in multiple counterparts, each of which is an
original but all of which shall constitute one and the same instrument.
XII. Entire Agreement.
This Agreement is understood to be the complete agreement of the parties hereto and
shall supersede any prior agreements and discussions relating to the subject matter
hereof. Any amendments, modifications, or alterations made in this agreement shall
require the affirmation by both parties to this Agreement and signed by said parties
hereto.
Any disputes arising from in this agreement shall be filed with courts of the India.
Each party hereby consents to the jurisdiction of said courts and waives any objection
which they may have at any time to the jurisdiction of such courts, the laying of venue
in such courts or the convenience of the forum.
Others:
1. Payment Terms: Revenue will be from Billing. Either 10% for AR followup or
15% for complete end to end process.
2. The Disclosing Party should not exercise same business outside our scope during
the contract period
3. The Disclosing Party should not use our Client’s & Shareholder’s Business details
for next 2 years from the end of the contract period. Any such activity will be charged
Penalty as per Governing Laws stated above in the contract