NDA business sale (short)
Short form confidentiality agreement for use where a seller will disclose confidential information relating to the business of the seller being sold to a potential buyer
Background
Why use Confidentiality Agreements?
Confidentiality Agreements (also known as NDAs) are used in corporate and commercial transactions as a preliminary agreement to enable parties to disclose confidential information prior to them discussing the main transaction.
By first entering into an NDA, the parties can exchange confidential information with each other with the assurance that, if the negotiations on the main transaction break down, the confidential information which has been disclosed will be protected by a legally enforceable agreement.
About this Confidentiality Agreement
This Confidentiality Agreement is for the one-way disclosure of confidential information by a seller to a potential buyer of the seller’s business and assets. The document is a short form agreement, in the form of a letter agreement, and contains the principal legal protections for the benefit of the seller in its capacity as the discloser of confidential information.
Often, negotiations on the terms of NDAs become protracted due to unreasonable and excessive terms being included by whichever party provides the first draft of the agreement. This template has been prepared and designed to enable the parties to quickly reach agreement on the NDA, to allow them to move onto the disclosure of confidential information and discussions on the main transaction documents.
Document features
Features include:
- 17 paragraphs over 3 pages
- Definition of Confidential Information
- Confidentiality obligations
- Permitted recipients to whom Confidential Information may be disclosed by the buyer
- Circumstances in which compulsory disclosure may be made by the buyer
- Return of Confidential Information to the seller
- Duration of agreement
Explanatory guidance
As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.
Alternative Confidentiality Agreements
For a longer form of confidentiality agreement for a business sale transaction, see NDA009.001 NDA: business sale (long).
All Paper Rock legal templates are written by highly qualified English lawyers that are currently practising in the field of commercial and corporate law. The templates you download here reflect the same quality as if you’d instructed our lawyers to draft them for you. They also write all our document descriptions so you can rest assured every bit of information is legally accurate up to date.
Whatever your method of purchase, there is no limit to the number of times you can download your templates. However, many customers prefer to invest in an annual subscription. This offers exceptional value with unlimited downloads from our entire document library.
The Paper Rock team is available to answer questions via Live Chat during UK business hours. When live chat is unavailable, email support@paperrock.com. We aim to respond to your emails within a 24-hour period. We also encourage you to ask questions via our social channels.Â