Singapore Law Non-Disclosure Agreement

An agreement is considered unilateral if it provides only obligations for the parties. In the case of a standard unilateral NOA, a party is considered a recipient of the information and undertakes not to pass it on to third parties. The other part is designated as an information provider. Finally, the NDA can also agree on what happens with the information disclosed after the termination of the contract. In some cases, you can expect the other party to return all documents containing classified information, but in other cases you may require data security. It is also desirable to include contractual sanctions against the parties in the event of a breach of contract. This section should include what a fair remedy is and what other consequences the person responsible should suffer. An effective confidentiality agreement (NDA) can help protect your company`s intellectual property from transfer to third parties. As a resource for the community, we have prepared a form of reciprocal NDA at Cooley GO for use by Singaporean companies. This reciprocal NOA requires both parties to treat the other party`s information confidentially and can be used when both parties exchange confidential information. A single nDA is more appropriate if you share information, but the other page does not share its confidential information with you. You can generate a unique NDA here. NDAs are common contracts in the Singapore business world.

Yare is often used to protect trade secrets and know-how and especially when companies hire employees or external experts to help with product development, marketing or other important aspects of the business. Confidentiality can be agreed in a separate agreement or, as specific clauses I, the content of another contract. The latter is often applicable to employment contracts. If the agreement covers more than two parties, it is considered a multilateral confidentiality agreement. This type of NOA renders separate unilateral or bilateral NDAs between only two parties redundant. In early 2017, as South Korean technology group Samsung launched its new Samsung Galaxy S7 Edge, local online media house Mothership announced that a Singapore man had been asked by Samsung to sign a confidentiality agreement after its new S7 Edge overheated and completely stopped work. According to photos in the confidentiality agreement, the agreement provided that the man should not talk to members of the media or post anything on social media about the problems he was having with the phone. In the wake of the public relations crisis that Samsung faced in 2016 due to the well-documented problem of the Galaxy Note 7, spontaneously overheating and catching fire, it is understandable that, when it released its new flagship model, Samsung would try to exert control over potentially embarrassing situations by encouraging consumers to enter into a confidentiality agreement. The most widely used form of an NDA is the unilateral NOA. In this form, it is an agreement in which only one party (or the recipient of the information) agrees not to disclose the confidential information of the other party (the information provider). However, the information provider remains free to continue to share its confidential information with a party, as it deems appropriate.

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