The Disclosure Agreement serves as a crucial legal instrument in Saudi Arabia for protecting proprietary and confidential information in various business contexts. It is commonly used before beginning business negotiations, during due diligence processes, or when sharing sensitive commercial, technical, or financial information. The document must comply with Saudi Arabian law, including the Commercial Court Law, Anti-Cyber Crime Law, and Sharia principles. This type of agreement is particularly relevant given Saudi Arabia's rapidly evolving business landscape under Vision 2030, where international partnerships and complex commercial transactions are increasingly common. The agreement typically covers definition of confidential information, scope of permitted use, duration of confidentiality obligations, and remedies for breach, all while ensuring alignment with local legal requirements and business practices.
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1. Parties: Identification of the disclosing and receiving parties, including full legal names and addresses
2. Background: Context of the relationship between parties and purpose of sharing confidential information
3. Definitions: Clear definitions of key terms, especially 'Confidential Information', 'Authorized Purpose', and 'Representatives'
4. Scope of Confidential Information: Detailed description of what constitutes confidential information under the agreement
5. Obligations of Confidentiality: Core confidentiality obligations, including use restrictions and security measures
6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including to representatives and by legal requirement
7. Term and Survival: Duration of the agreement and obligations that continue after termination
8. Return or Destruction of Confidential Information: Requirements for handling confidential information upon termination or request
9. Remedies: Available remedies in case of breach, including injunctive relief and damages
10. Governing Law and Jurisdiction: Specification of Saudi law as governing law and jurisdiction for disputes
1. Digital Information Protection: Additional provisions for protecting digital or electronic confidential information, recommended when dealing with technical data or software
2. Third Party Rights: Provisions regarding rights of third parties whose confidential information may be involved
3. Non-Solicitation: Restrictions on soliciting employees or customers, recommended for business relationships
4. Shariah Compliance: Explicit statement of Shariah compliance, recommended for agreements with Islamic financial institutions
5. Data Protection: Specific provisions for personal data protection, necessary when confidential information includes personal data
6. Export Control: Provisions for compliance with export control laws, necessary when information may be subject to export restrictions
1. Schedule 1 - Categories of Confidential Information: Detailed list of specific types and categories of confidential information covered
2. Schedule 2 - Authorized Representatives: List of authorized representatives who may access the confidential information
3. Schedule 3 - Security Protocols: Specific security measures and protocols for handling confidential information
4. Appendix A - Form of Confidentiality Undertaking: Template for confidentiality undertaking to be signed by representatives
5. Appendix B - Data Handling Procedures: Detailed procedures for handling, storing, and transmitting confidential information
Relevant legal definitions
Clauses
Relevant Industries
Technology and Software
Financial Services
Manufacturing
Healthcare
Professional Services
Oil and Gas
Real Estate Development
Education
Telecommunications
Construction
Islamic Banking
Defense and Security
Retail and Consumer Goods
Biotechnology
Mining and Metals
Relevant Teams
Legal
Executive Leadership
Business Development
Finance
Human Resources
Research and Development
Information Technology
Operations
Procurement
Compliance
Risk Management
Corporate Communications
Strategy
Investment
Administrative
Relevant Roles
Chief Executive Officer
Legal Counsel
Business Development Manager
Chief Financial Officer
Project Manager
Research Director
Investment Analyst
Technology Officer
Human Resources Director
Operations Manager
Compliance Officer
Strategy Consultant
Procurement Manager
Corporate Secretary
Risk Manager
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