A non-disclosure agreement (NDA) is a legal document that protects confidential information from being disclosed to third parties. It is a common practice in many industries, including technology, healthcare, finance, and more. In the Philippines, NDAs are often used by companies to safeguard their trade secrets and confidential data. In this article, we will provide you with a simple non-disclosure agreement sample for the Philippines.
Before we dive into the sample, let`s first understand what an NDA entails. An NDA is a legally binding agreement between two parties, the discloser (the party that is providing confidential information) and the receiver (the party that is receiving confidential information). The agreement outlines the terms and conditions that the receiver must adhere to, such as not disclosing the confidential information to third parties, using the information only for the intended purpose, and returning or destroying the information after use.
Now, let`s take a look at a simple non-disclosure agreement sample for the Philippines.
NON-DISCLOSURE AGREEMENT
This non-disclosure agreement (”Agreement”) is made on [DATE] between [DISCLOSER`S NAME], with a business address at [ADDRESS] (hereinafter referred to as ”Discloser”), and [RECEIVER`S NAME], with a business address at [ADDRESS] (hereinafter referred to as ”Receiver”).
WHEREAS, Discloser possesses certain confidential information, including but not limited to [DESCRIPTION OF CONFIDENTIAL INFORMATION], that is valuable to Discloser`s business operations.
WHEREAS, Receiver is interested in receiving such information for the purposes of [PURPOSE OF DISCLOSURE], subject to the terms and conditions set forth in this Agreement.
NOW, THEREFORE, the parties agree as follows:
1. Confidential Information. Discloser will provide the confidential information to Receiver for the sole purpose of [PURPOSE OF DISCLOSURE]. The confidential information includes any and all information, whether written or oral, that is not generally known to the public and is marked as confidential by Discloser.
2. Use and Disclosure. Receiver will use the confidential information solely for the purpose of [PURPOSE OF DISCLOSURE]. Receiver will not disclose or permit any third party to disclose any of the confidential information to anyone without the prior written consent of Discloser. Receiver will take all reasonable measures to protect the confidential information from unauthorized access or use.
3. Return of Confidential Information. Upon request by Discloser, Receiver agrees to return or destroy all confidential information received from Discloser, including any copies or reproductions thereof.
4. Term. This Agreement will remain in effect for [DURATION OF AGREEMENT], or until such time as Discloser releases Receiver from its obligations hereunder in writing.
5. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the Philippines.
6. Counterparts. This Agreement may be executed in counterparts, each of which shall be considered an original, but all of which together shall constitute one and the same agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
[DISCLOSER`S NAME]
By: __________________________
[NAME AND TITLE]
[RECEIVER`S NAME]
By: __________________________
[NAME AND TITLE]
In conclusion, a non-disclosure agreement is an important legal document that protects confidential information from being disclosed to third parties. This simple non-disclosure agreement sample for the Philippines is just one example of how an NDA can be structured. It is always recommended to consult a legal professional to ensure that your NDA meets the specific needs of your business.