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Non Disclosure Agreement For Startups

Non Disclosure Agreement For Startups Template for Saudi Arabia

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Key Requirements PROMPT example:

Non Disclosure Agreement For Startups

"I need a Non-Disclosure Agreement For Startups to protect our AI technology and financial projections while discussing potential investment with venture capital firms in Saudi Arabia, with the agreement starting from March 2025."

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Document background
The Non-Disclosure Agreement For Startups is an essential legal document for emerging companies in Saudi Arabia's growing entrepreneurial ecosystem. This agreement is particularly crucial when startups engage with potential investors, partners, or service providers, requiring the sharing of sensitive business information, intellectual property, or trade secrets. The document is drafted in compliance with Saudi Arabian law, including recent regulatory updates supporting Vision 2030's emphasis on digital transformation and innovation. It addresses specific requirements under Saudi commercial law and Shariah principles while maintaining flexibility for various business contexts. The agreement is structured to protect confidential information during business negotiations, due diligence processes, and strategic partnerships, with specific provisions for digital data protection and intellectual property rights that are crucial for technology-driven startups.
Suggested Sections

1. Parties: Identification of the parties entering into the agreement, including full legal names, addresses, and commercial registration details as required under Saudi law

2. Background: Context of the agreement, including the purpose of sharing confidential information and the nature of the proposed business relationship

3. Definitions: Key terms used in the agreement, particularly defining 'Confidential Information' in accordance with Saudi commercial data protection laws

4. Scope of Confidentiality: Detailed description of what constitutes confidential information and how it may be used

5. Obligations of Receiving Party: Core confidentiality obligations, including protection measures and prohibited actions

6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including to employees, advisors, or as required by law

7. Term and Survival: Duration of the agreement and which obligations survive termination

8. Return or Destruction of Confidential Information: Requirements for handling confidential information upon termination or request

9. Remedies: Available remedies in case of breach, including injunctive relief and damages under Saudi law

10. Governing Law and Jurisdiction: Specification of Saudi law as governing law and jurisdiction of Saudi courts

Optional Sections

1. Non-Solicitation: Prevents solicitation of employees or customers, recommended when parties are competitors or in similar industries

2. Non-Competition: Restricts competitive activities, useful when sharing highly sensitive business information

3. Digital Data Protection: Specific provisions for protecting digital information, recommended when sharing electronic data or software

4. Islamic Finance Compliance: Additional provisions ensuring compliance with Islamic finance principles, needed when dealing with Shariah-compliant businesses

5. Intellectual Property Rights: Specific provisions protecting IP rights, important when sharing technical or proprietary information

6. Third Party Rights: Provisions regarding disclosure to and obligations of third parties, useful when third-party involvement is anticipated

7. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in long-term NDAs

8. Data Processing Requirements: Additional provisions for compliance with Saudi data protection laws, needed when personal data is involved

Suggested Schedules

1. Schedule 1: Description of Confidential Information: Detailed list or categories of information covered by the NDA

2. Schedule 2: Authorized Representatives: List of individuals authorized to receive and handle confidential information

3. Schedule 3: Security Protocols: Specific security measures and protocols for handling confidential information

4. Appendix A: Acknowledgment Form: Form for employees or authorized representatives to acknowledge NDA obligations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Affiliate
Agreement
Authorized Representatives
Business Day
Business Purpose
Company
Confidential Information
Digital Assets
Disclosing Party
Effective Date
Electronic Data
Excluded Information
Intellectual Property Rights
Notice
Party/Parties
Permitted Purpose
Personal Data
Receiving Party
Representatives
Residual Information
Saudi Law
Security Protocols
Shariah Compliant
Subsidiary
Term
Trade Secrets
Proprietary Information
Technical Information
Business Information
Financial Information
Marketing Information
Research and Development
Source Code
Confidentiality Period
Disclosing Entity
Permitted Disclosure
Data Protection Laws
Breach
Damages
Clauses
Confidentiality Obligations
Permitted Use
Exclusions from Confidentiality
Data Protection
Term and Termination
Return or Destruction of Information
Security Measures
Breach Notification
Remedies
Indemnification
Assignment
Severability
Entire Agreement
Amendments
Notices
Force Majeure
Governing Law
Dispute Resolution
Third Party Rights
Electronic Communications
Non-Solicitation
Non-Competition
Intellectual Property Rights
Survival
Counterparts
Costs
Waiver
Interpretation
Compliance with Laws
Shariah Compliance
Relevant Industries

Technology

E-commerce

FinTech

Healthcare Technology

Educational Technology

Clean Energy

Digital Media

Artificial Intelligence

Logistics and Supply Chain

Software Development

Biotechnology

Smart Cities

Food Technology

Islamic Finance

Agricultural Technology

Retail Innovation

Relevant Teams

Legal

Executive Leadership

Business Development

Research and Development

Information Technology

Operations

Finance

Innovation

Product Development

Compliance

Strategy

Investment Relations

Relevant Roles

Founder

CEO

CTO

Business Development Manager

Legal Counsel

Innovation Director

Investment Manager

Operations Manager

Project Manager

Research & Development Lead

Technical Director

Product Manager

Strategy Consultant

Compliance Officer

Partnership Manager

Venture Capital Associate

Industries
Saudi Commercial Court Law (Royal Decree No. M/93): Provides the fundamental framework for commercial contracts and business relationships in Saudi Arabia, including provisions for enforcing contractual obligations and remedies for breach of contract
Saudi Law of Commercial Data (Royal Decree No. M/15): Governs the protection of trade secrets and confidential commercial information, crucial for NDAs in defining what constitutes protected information
Saudi Arabia Anti-Cyber Crime Law (Royal Decree No. M/17): Relevant for protecting electronic data and confidential information shared in digital format, including penalties for unauthorized disclosure
Saudi Copyright Law (Royal Decree No. M/41): Protects original works and intellectual property, which may be relevant when the NDA covers copyrightable materials
Personal Data Protection Law (PDPL): Saudi Arabia's data protection regulation that governs the collection, processing, and sharing of personal data, which may be relevant if the NDA involves personal information
Commercial Courts Law Implementation Regulations: Provides detailed procedures for enforcement of commercial contracts and dispute resolution mechanisms
Saudi Competition Law (Royal Decree No. M/75): Relevant for ensuring NDA provisions do not violate competition regulations, particularly important for startups in innovative sectors
Evidence Law (Royal Decree No. M/28): Governs what constitutes acceptable evidence in Saudi courts, important for enforcement of NDA terms and proof of breach
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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