This discloser-friendly Mutual NDA is written to protect the confidential information of both parties, but it is drafted in favor of the party disclosing confidential information.
This MNDA is best for situations where you are more concerned with the other party not being able to use or disclose your confidential information than you are worried about the obligations you have not to use or disclose the other party's confidential information.
Mutual NDA (discloser-friendly)
• Broad definition of "Confidential Information" protects more information, including information:
- the recipient should reasonably know to be confidential
- shared prior to the agreement
- relating to the agreement itself
- relating to the business discussions
• Obligations to keep any trade secrets confidential survives expiration of the NDA
• Requires return or destruction of confidential information upon expiration or request by the discloser.
• Discloser can assign its rights under the NDA (e.g., in the event of an acquisition or merger)
• Neither party is obligated to enter into any transaction.