There are also cases where two parties are doing business and only one party is sharing sensitive data, and a unilateral NOA would suffice here. It is also possible that the business relationship will change at a later date, requiring both parties to share private information. In a case where the relationship develops and both parties need confidentiality protection, it is desirable to establish and re-sign a mutual confidentiality agreement. A mutual NOA contains the same information you will find in a one-sided NOA. The parties involved and the dates are included. The sensitive and confidential information covered by the agreement is clearly defined. The main difference is that both parties agree not to disclose the information gathered by the relationship with the other entity. A mutual confidentiality agreement is often used when two parties discuss cooperation to some extent. The above commitments are mandatory for the parties for five (5) years from the date on which one of the parties must disclose the others for the last time under this agreement. In addition, the non-disclosure obligation is not affected by bankruptcy, bankruptcy, foreclosure, seizure or foreclosure proceedings initiated by or against a party, or by the refusal of an agreement between the parties, by a trustee of a party to bankruptcy or by a party as a debtor or by the equivalent of the above. Unlike a traditional NOA in which one (1) party is bound by the agreement, a reciprocal NOA requires that both parties be deprived of the disclosure of information relating to trade secrets, trade relations and any other details agreed upon by the parties. This is a common practice when two (2) parties have since had a mutual interest in keeping certain information secret in front of third parties and the public.
In this case, a reciprocal confidentiality agreement would be used to ensure that both parties are protected from leaking critical confidential information. IN WITNESS WHEREOF, the contracting parties acknowledge their agreement on the above date, which was set for the first time by the implementation of the agreement by their respective agents. Step 4 – The duration of the agreement can be shown on the second page. If the business relationship is likely to develop or if your company wants an additional opportunity to promote trust, a reciprocal NOA is an excellent option.