In addition, parties may agree to include certain exceptions where the receiving party may be allowed to keep certain information confidential, such as data stored electronically. B, in order to comply with internal laws or conservation guidelines. As long as the unveiling party agrees and the information is not used for unauthorized purposes, these conditions can reasonably be included in the contract. Consult an NDA lawyer could help the parties decide how to continue to protect shared information, even after an NDA has ended or expired. When recipients of confidential information are bound by the obligation to return or destroy this information, they must ensure that electronic copies do not penetrate different desktop hard drives or enterprise data management systems where backup copies are likely to be created. Otherwise, they could be exposed to considerable costs if the unveiling party wished to insist on strict compliance with the NDA`s letter. Whack A-Mole. Cockroaches. Electronic confidential information. What`s the common thread? They`re all hard to destroy. Carnival moles show up relentlessly in new places.
Cockroaches could survive a nuclear attack. And it would be difficult – perhaps impossible – to completely destroy electronic confidential information, as is necessary in many confidentiality agreements. A lawyer for the NDA could point out to the receiving party that such an obligation of restitution or destruction is ineffective and that the parties of an NDA should not agree on this point. They may justify that most recipient parties will not even remember their respect after the end of an NOA and that it would not be practical for recipient parties to locate other authorized recipients and obtain shared information. Nevertheless, the inclusion of such a provision may still be beneficial to both parties at the end of the agreement. The obligation to return or destruction clause in the event of termination or for a specified period is preferable to a lack of foundation as soon as an NDA ends or expires. If the agreement is not concluded or is not concluded or memorized, a recipient party must generally return to the other party all the confidential information disclosed, accompanied by derivative information. Some choose to demand the destruction of shared information. Answer #1: We distribute confidentiality agreements (NDAs) like crazy in our fund, so I think we have a pretty good idea of market conditions. At this point, for most recipients of confidential information, the standard is to keep “a copy” in conjunction with their “standard document storage guidelines” that apply to all their counterparty relationships. Your question does not seem too aggressive. We get and give this in the normal business.1 The most diligent one step further to perform a “windshield wiper” function that effectively crushes the contents of the hard drive with random or dummed data.