1) n. an agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration. Since the law of contracts is at the heart of most business dealings, it is one of the three or four most...
Businesses enter into an agreement on a day-to-day basis for various functions, some of which include non-disclosure agreements or NDAs for organizational data security, sales contracts that facilitate business sales transactions, employment contracts, property rent/lease agreements, vendor & service co...
Confidentiality – Apart from a non-disclosure agreement, some employment contracts have a statement regarding the confidentiality in the employment contract. NCC – Some employment agreements have a noncompete clause that states that when an employee leaves an organization and joins a new competitor or...
X.X. Xxxxxx shall have the meaning set forth in the preamble. Sxxxxxxx-Xxxxx means the Sxxxxxxx-Xxxxx Act of 2002. Xxxx Xxxxxxx Xxxxxx Xxxxx” ”Xxxxxx Xxxxxx” ”Xxxxx Xxxxxxxx” Xxxx Xxxxxxxx Xxxxx Xxxxxxxx” Xxxxxxx Xxxxx means Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated. Xxxxxx...
3.1 Non-Disclosure Agreement. The parties will treat all confidential information exchanged between the parties under this Agreement in accordance with the separate nondisclosure agreement ("NDA") executed by the parties. If no separate NDA is in effect, the following provisions apply to the ...
Sharing confidential information without authorization can be considered a breach of contract if there is a non-disclosure agreement in place. Legal Terms Similar to Breach Of Contract Material Breach: A breach of contract is considered material when it fundamentally affects the agreement's purpose and...
non-disclosure agreements. Important note: Agreements can still be considered contracts if they contain the essential elements of a contract. Contracts referred to as agreements can be binding agreements. See also: What’s the real difference between a contract vs. agreement?
Non-Compete Clause This clause may be referred to as a non-competition clause or as a non-compete agreement. This is another advantage this contract grants an employer. Along with the non-disclosure clause, it prevents the employee from terminating employment and taking on an identical job strai...
Access our free Non Disclosure Agreement (NDA) template and Confidentiality Agreement template. 8. Contracts enable formal collaboration between teams If managed well, contracts can also facilitate formal collaboration between teams and departments. In business, a contract is rarely approved by just one...
For example, a party who violates a non-disclosure agreement may also have engaged in a Trade Secrets Act violation. So, the one ‘bad act’ may give rise to several causes of action. Similarly, even if you didn’t fully perform your side of the agreement, you may have legally valid ...