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Business Broker NDA
"I need a Business Broker NDA under Nigerian law for my Lagos-based manufacturing company that we'll use with multiple brokers throughout 2025; it needs to include strong provisions about protecting our customer lists and manufacturing processes, with specific clauses about data security."
1. Parties: Identification of the disclosing party (typically the business owner or company), the receiving party (the business broker), and any other relevant parties
2. Background: Context of the agreement, including the business brokerage relationship and the need for confidentiality
3. Definitions: Key terms including Confidential Information, Business Purpose, Authorized Representatives, and other relevant definitions
4. Scope of Confidential Information: Detailed description of what constitutes confidential information in the business brokerage context
5. Permitted Use: Specific purposes for which the confidential information may be used by the broker
6. Non-Disclosure Obligations: Core confidentiality obligations and restrictions on the use of confidential information
7. Security Measures: Required procedures for protecting and securing confidential information
8. Return or Destruction of Information: Procedures for handling confidential information after the agreement ends or upon request
9. Duration of Obligations: Term of the agreement and survival of confidentiality obligations
10. Breach and Remedies: Consequences of breaching the agreement and available remedies
11. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes
1. Non-Circumvention: Prevents the broker from bypassing the business owner in dealings with identified parties - include when the broker will be exposed to customer/supplier relationships
2. Representative Obligations: Include when the broker needs to share information with their team members or professional advisors
3. Data Protection Compliance: Include when personal data will be shared, ensuring compliance with Nigerian Data Protection Regulation
4. Non-Solicitation: Include to prevent the broker from soliciting employees or clients - relevant for high-value businesses
5. Publicity Restrictions: Include when there are concerns about public disclosure of the business sale process
6. Export Control: Include when the business involves international trade or controlled technologies
1. Schedule 1 - Specified Purpose: Detailed description of the business brokerage services and permitted activities
2. Schedule 2 - Categories of Confidential Information: Specific listing of types of confidential information to be protected
3. Schedule 3 - Authorized Representatives: List of individuals authorized to receive and handle confidential information
4. Appendix A - Security Protocols: Detailed security measures and procedures for handling confidential information
5. Appendix B - Return/Destruction Certificate: Template certificate confirming return or destruction of confidential information
Authors
Business Services
Professional Services
Real Estate
Manufacturing
Retail
Healthcare
Technology
Hospitality
Financial Services
Construction
Agriculture
Oil and Gas
Transportation
Education
Legal
Corporate Development
Mergers & Acquisitions
Executive Leadership
Finance
Business Development
Compliance
Risk Management
Corporate Strategy
Investment Banking
Business Broker
Managing Director
Business Owner
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Business Development Manager
Merger & Acquisition Specialist
Investment Advisor
Corporate Attorney
Business Valuation Specialist
Transaction Advisory Manager
Due Diligence Officer
Corporate Finance Manager
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