The Business Plan Non Disclosure Agreement is essential when sharing sensitive business planning information with potential investors, partners, or advisors in Nigeria. This document becomes necessary when companies need to disclose detailed business strategies, financial projections, market analysis, operational plans, or other confidential information during business negotiations, funding rounds, or strategic partnerships. It ensures compliance with Nigerian legal requirements, including the Companies and Allied Matters Act (CAMA) 2020 and common law principles protecting trade secrets. The agreement is particularly crucial in the Nigerian business environment where intellectual property protection and confidentiality enforcement need robust contractual foundations.
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1. Parties: Identification of the disclosing party (business plan owner) and receiving party, including full legal names and addresses
2. Background: Context of the disclosure, purpose of sharing the business plan, and nature of the proposed business relationship
3. Definitions: Detailed definitions including 'Confidential Information', 'Business Plan', 'Authorized Purpose', 'Representatives', and other key terms
4. Scope of Confidential Information: Specific description of what constitutes confidential information in relation to the business plan
5. Obligations of Confidentiality: Core confidentiality obligations, including use restrictions and standard of care
6. Permitted Disclosures: Circumstances under which confidential information may be shared with representatives or as required by law
7. Protection Measures: Specific security measures required to protect the confidential information
8. Return or Destruction of Confidential Information: Requirements for handling confidential information upon termination or request
9. Duration and Termination: Term of the agreement and survival of obligations
10. Breach and Remedies: Consequences of breach and available remedies including injunctive relief
11. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes
1. Non-Solicitation: Prevents poaching of employees or clients, included when business plan contains sensitive personnel or client information
2. Non-Competition: Restricts competitive activities, used when business plan contains highly sensitive market strategy
3. Intellectual Property Rights: Clarifies ownership of IP contained in business plan, included when plan contains inventions or proprietary methods
4. Data Protection Compliance: Additional provisions for compliance with Nigerian Data Protection Regulation, needed if personal data is involved
5. Representatives' Obligations: Detailed provisions for controlling and being responsible for representatives' access to information
6. Electronic Information Security: Specific provisions for protecting digital information, needed when business plan is shared electronically
7. Public Announcements: Controls on public statements about the business relationship, useful for high-profile projects
1. Schedule 1 - Description of Business Plan: Detailed description of the business plan documents and information covered
2. Schedule 2 - Authorized Representatives: List of individuals authorized to receive and handle the confidential information
3. Schedule 3 - Security Protocols: Specific security measures and protocols for handling confidential information
4. Appendix A - Destruction Certificate: Template certificate confirming destruction of confidential information
5. Appendix B - Confidentiality Undertaking: Template undertaking for authorized representatives to sign
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