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How to Terminate an NDA

EveryNDA
EveryNDA
Dec. 12, 2017
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How to Terminate an NDA

  1. How to: Terminate an NDA
  2. In the US, a legally binding contract must consist of: An offer from one party Acceptance of that offer from another party Consideration from the party accepting the offer The mutual acceptance of both parties to be bound by the contract.
  3. The NDA
  4. A non-disclosure agreement (NDA) (1) is a contract between parties wherein either one or both parties agree to keep specific information from the other party a secret. (1) Link to https://everynda.com/blog/sample-non-disclosure-agreement-template/
  5. How to terminate the NDA
  6. 1 Read the "Duration" clause
  7. A good NDA can have different terms of "duration". A term for the contract itself, which is the effective period of the agreement And a term for how long confidentiality obligations are expected to apply for.
  8. In this example clause from Accuride Corp’s (2) Confidentiality and Non-Disclosure Agreement shows that the five year confidentiality period starts from the date of the agreement itself. (2) Link to http://www.accuridecorp.com/files/2012/09/ConfidentialityNondisclosureAgreement.pdf
  9. 2 Read the "Termination" clause
  10. The "termination" clause will generally specify: How the intention to terminate should be communicated to the other party (for example, in writing) And whether any notice period is required before termination kicks into effect
  11. Example of a clause taken from a mutual NDA where 30 days written notice is required and the obligation of confidentiality is to continue for five years after the termination of the agreement:
  12. 3 Read the "Return of Confidential Information" clause
  13. A "Return of Confidential Information" clause is used to specify that the other party is required to: To return all information back to you To destroy all copies of information in their possession To show you confirmation that they have done so And perhaps also, to agree not to make any further copies from then onwards. And so on
  14. Credits Icon from slide 7 created by Creative Stall from Noun Project.
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