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Confidentiality Agreement Between Two Companies for Nigeria

Confidentiality Agreement Between Two Companies Template for Nigeria

A bilateral confidentiality agreement governed by Nigerian law, designed to protect confidential information exchanged between two companies during business discussions or transactions. This document establishes legally binding obligations for the handling and protection of sensitive business information, trade secrets, and proprietary data, incorporating specific requirements under Nigerian contract law and data protection regulations. It includes comprehensive provisions for confidentiality obligations, permitted uses, security measures, and remedies for breach, while ensuring compliance with Nigerian legal requirements for corporate document execution.

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Confidentiality Agreement Between Two Companies

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What is a Confidentiality Agreement Between Two Companies?

The Confidentiality Agreement Between Two Companies is a critical legal document used when businesses need to share sensitive information while maintaining its confidentiality. This agreement, governed by Nigerian law, is typically employed during business negotiations, due diligence processes, joint ventures, or potential commercial partnerships. It defines what constitutes confidential information, establishes the obligations of the receiving party, and provides legal remedies under Nigerian jurisdiction if confidentiality is breached. The document is essential for protecting trade secrets, proprietary information, customer data, and other sensitive business information, particularly given Nigeria's growing business environment and the increasing importance of data protection. It incorporates requirements from relevant Nigerian legislation, including the Nigeria Data Protection Regulation 2019 and the Freedom of Information Act 2011.

What sections should be included in a Confidentiality Agreement Between Two Companies?

1. Parties: Identification of both companies including full registered names, registration numbers, and registered addresses

2. Background: Context of the agreement and the purpose for sharing confidential information

3. Definitions: Detailed definitions including 'Confidential Information', 'Representatives', 'Permitted Purpose', and other key terms

4. Scope of Confidential Information: Detailed description of what constitutes confidential information under the agreement

5. Obligations of Confidentiality: Core confidentiality obligations and standard of care required

6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including to employees, advisors, or as required by law

7. Protection and Security Measures: Specific measures required to protect confidential information

8. Return or Destruction of Confidential Information: Obligations regarding the return or destruction of confidential information upon request or termination

9. Duration and Survival: Term of the agreement and which obligations survive termination

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

12. Entire Agreement: Standard boilerplate confirming this is the complete agreement between parties

13. Execution: Signature blocks and execution requirements

What sections are optional to include in a Confidentiality Agreement Between Two Companies?

1. Non-Competition: Restrictions on competitive activities - include when there's a risk of competitive use of information

2. Non-Solicitation: Restrictions on soliciting employees or customers - include when sharing information about human resources or customer lists

3. Data Protection Compliance: Specific provisions for compliance with Nigerian Data Protection Regulation - include when personal data is involved

4. Intellectual Property Rights: Clarification of IP ownership and rights - include when sharing technical information or innovations

5. Export Control: Compliance with export control laws - include when dealing with technical data or international transfers

6. Force Majeure: Provisions for unforeseen circumstances - include when long-term information sharing is contemplated

7. Assignment and Succession: Rights to assign the agreement - include when dealing with large corporations likely to undergo restructuring

8. Third Party Rights: Rights of third parties under the agreement - include when affiliates or group companies are involved

What schedules should be included in a Confidentiality Agreement Between Two Companies?

1. Schedule 1 - Detailed Description of Confidential Information: Comprehensive list or categories of information covered by the agreement

2. Schedule 2 - Authorized Representatives: List of individuals authorized to receive and handle confidential information

3. Schedule 3 - Security Protocols: Detailed security measures and protocols for handling confidential information

4. Schedule 4 - Permitted Purpose Details: Detailed description of the specific purpose for which confidential information may be used

5. Appendix A - Form of Confidentiality Undertaking: Template confidentiality undertaking for employees or representatives who will access the information

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Nigeria

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions







































Clauses

































Relevant Industries

Technology

Manufacturing

Financial Services

Healthcare

Energy and Oil & Gas

Telecommunications

Professional Services

Real Estate

Construction

Agricultural Business

Pharmaceutical

Mining

Consumer Goods

Media and Entertainment

Education

Relevant Teams

Legal

Compliance

Executive Leadership

Business Development

Research and Development

Information Technology

Finance

Operations

Procurement

Corporate Affairs

Risk Management

Information Security

Strategy

Human Resources

Mergers and Acquisitions

Relevant Roles

Chief Executive Officer

Managing Director

Chief Legal Officer

General Counsel

Business Development Manager

Chief Financial Officer

Chief Technology Officer

Project Manager

Research and Development Director

Commercial Director

Chief Operations Officer

Company Secretary

Head of Compliance

Procurement Manager

Strategic Partnership Manager

Investment Manager

Chief Information Security Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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