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Business Sale Non Disclosure Agreement

Business Sale Non Disclosure Agreement Template for New Zealand

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Key Requirements PROMPT example:

Business Sale Non Disclosure Agreement

"I need a Business Sale Non Disclosure Agreement under New Zealand law for the potential sale of my technology manufacturing company, with strong IP protection clauses and specific provisions for protecting our source code and customer data."

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Document background
The Business Sale Non Disclosure Agreement is a crucial document used in New Zealand business sale transactions to protect confidential information exchanged during due diligence and negotiations. It becomes relevant when a business owner is considering selling their business and needs to share sensitive information with potential buyers or their advisors. The agreement ensures compliance with New Zealand legal requirements, including the Contract and Commercial Law Act 2017, Privacy Act 2020, and relevant common law principles regarding confidential information. It typically covers various categories of confidential information including financial data, customer lists, trade secrets, employee information, and proprietary business methods. This document is essential for maintaining confidentiality before any formal sale agreement is executed and helps prevent misuse of sensitive information if the sale doesn't proceed.
Suggested Sections

1. Parties: Identifies and provides full legal details of all parties entering into the agreement

2. Background: Sets out the context of the proposed business sale and purpose of the NDA

3. Definitions: Defines key terms used throughout the agreement, including 'Confidential Information', 'Permitted Purpose', and 'Representatives'

4. Confidentiality Obligations: Core provisions detailing the obligations to maintain confidentiality and permitted uses of confidential information

5. Permitted Disclosures: Specifies who may receive the confidential information and under what circumstances

6. Security and Control Measures: Outlines required procedures for protecting and securing confidential information

7. Return or Destruction of Information: Procedures for handling confidential information after termination or upon request

8. Term and Termination: Duration of the agreement and circumstances for termination

9. Breach and Remedies: Consequences of breach and available remedies including injunctive relief

10. General Provisions: Standard clauses including governing law, jurisdiction, and entire agreement

Optional Sections

1. Non-Solicitation: Prohibits solicitation of employees, customers, or suppliers - included when there's specific concern about poaching

2. Exclusivity Period: Grants exclusive negotiation rights for a specified period - used when buyer requires exclusivity

3. Representatives' Obligations: Detailed provisions for representatives' compliance - included when multiple personnel will access information

4. Competitive Information: Special provisions for handling competitively sensitive information - used when parties are competitors

5. Public Announcements: Controls over public statements about the potential transaction - included for sensitive or high-profile deals

6. Information Security Standards: Specific technical requirements for information protection - used for digital assets or sensitive data

7. Costs: Allocation of costs related to confidentiality measures - included when significant costs anticipated

Suggested Schedules

1. Schedule 1: Confidential Information: Detailed list of categories and types of confidential information covered

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

3. Schedule 3: Security Protocols: Specific procedures and requirements for handling different types of confidential information

4. Schedule 4: Disclosure Log: Template for recording all disclosures of confidential information

5. Schedule 5: Return/Destruction Certificate: Form for certifying the return or destruction of confidential information

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



































Clauses






























Relevant Industries

Manufacturing

Retail

Technology

Professional Services

Healthcare

Hospitality

Construction

Real Estate

Financial Services

Agriculture

Education

Transport and Logistics

Mining and Resources

Media and Entertainment

Telecommunications

Relevant Teams

Legal

Finance

Executive Leadership

Mergers & Acquisitions

Corporate Development

Risk and Compliance

Business Development

Company Secretariat

Due Diligence

Strategy

Relevant Roles

Chief Executive Officer

Managing Director

Business Owner

Corporate Lawyer

Legal Counsel

Chief Financial Officer

Investment Banker

Business Broker

Due Diligence Manager

Mergers & Acquisitions Director

Company Secretary

Commercial Director

Business Development Manager

Financial Controller

Risk Manager

Compliance 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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