Please describe your business context, the nature and size of the business you are looking for, your investment capacity and your interest in that business. A serious and professional buyer should expect you to apply for an NDA. An NDA is essential to protect your confidential business information in the treatment of a potential buyer, and should be fully executed before information is provided orally or in writing. You can explain that the NDA effectively protects both parties by indicating what types of information about your business are considered confidential. The NDA should be specific to your business and should be prepared by your lawyer, or at least verified, to ensure that all key elements are covered. Why do you need confidentiality agreements before discussing a business sale? There are many very good reasons why buyers and sellers want to keep things calm when talking about selling a business. Regular customers of a company can experience a multitude of emotions when a company is on sale. Among the different feelings a customer may have, the purpose of a confidentiality agreement (“NDA”) or a confidentiality agreement (CA) is to ensure that the information you make available to a potential buyer is not passed on to a party. This preserves the confidentiality of your information, except to the extent that such disclosure is necessary for the potential buyer to navigate to a successful sale. 6. The confidentiality terms of this Agreement shall not be construed to restrict the right of either party (without use of or access to the other party`s confidential information) to independently develop or acquire products or services that may be similar to those described below. The disclosing party acknowledges that the receiving party may, now or in the future, develop information internally or obtain information from other parties similar to confidential information.
Accordingly, nothing in this Agreement shall prevent the Receiving Party from developing or having developed for it products, concepts, systems or techniques similar to or in competition with the products, concepts, systems or techniques provided for or embodied in the Confidential Information, provided that the Receiving Party does not violate any of its obligations under this Agreement in connection with such developments. . . .