The Non Disclosure Agreement For Sale Of Business is essential when contemplating the sale of a business in Singapore, where confidential information needs to be shared for due diligence purposes. It provides legal protection under Singapore law for sensitive business information, including financial records, trade secrets, customer lists, and operational procedures. This document is typically executed before detailed discussions or due diligence begin, and includes provisions for PDPA compliance, specific remedies under Singapore law, and clear obligations for handling confidential information both during and after the potential transaction.
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1. Parties: Identification of disclosing and receiving parties, including full legal names and registered addresses
2. Background: Context of the proposed business sale and purpose of the NDA
3. Definitions: Key terms including 'Confidential Information', 'Representatives', 'Permitted Purpose'
4. Confidentiality Obligations: Core obligations regarding use and protection of confidential information
5. Permitted Disclosures: Circumstances under which confidential information may be shared
6. Term and Survival: Duration of the agreement and obligations that continue after termination
7. Return of Confidential Information: Obligations regarding return or destruction of confidential materials
8. Remedies: Legal remedies available in case of breach
9. Governing Law: Specification of Singapore law and jurisdiction
1. Non-Solicitation: Prevents poaching of employees/customers during business sale discussions
2. Non-Competition: Restricts competitive activities during and after business sale discussions
3. Data Protection: PDPA compliance provisions for handling personal data
4. Intellectual Property Rights: Specific IP protection provisions for business assets
5. Dispute Resolution: Alternative dispute resolution procedures including arbitration/mediation options
1. Schedule 1 - Confidential Information: Detailed list of what constitutes confidential information for the business sale
2. Schedule 2 - Authorized Representatives: List of individuals authorized to receive confidential information during due diligence
3. Schedule 3 - Security Protocols: Specific procedures for handling confidential information during the business sale process
4. Schedule 4 - Excluded Information: Information specifically excluded from confidentiality obligations in the context of the business sale
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