Change of terms, termination and expiration of NDA
Posted: Thu Jan 23, 2025 7:36 am
The confidentiality agreement can be changed or terminated.
How to change. This may be necessary, for example, if the company's list of confidential information has expanded or data such as the legal address has changed. Then you can enter into an additional agreement or korea telegram mobile phone number list terminate the old one, entering into a new one if there are too many changes.
How to terminate. This can be done by mutual consent or unilaterally. In the first case, the parties sign a termination agreement. In the second case, one of the signatories sends a written notice to the other, such a procedure must be described in the NDA. After termination, the NDA is no longer valid, confidential information can be freely disclosed.
Without termination, the contract ends when its term expires. Then it is not necessary to sign additional agreements, but sometimes reconciliation acts are concluded for reporting purposes - in practice, this mainly happens if one of the parties has violated the agreement and paid a fine.
How to change. This may be necessary, for example, if the company's list of confidential information has expanded or data such as the legal address has changed. Then you can enter into an additional agreement or korea telegram mobile phone number list terminate the old one, entering into a new one if there are too many changes.
How to terminate. This can be done by mutual consent or unilaterally. In the first case, the parties sign a termination agreement. In the second case, one of the signatories sends a written notice to the other, such a procedure must be described in the NDA. After termination, the NDA is no longer valid, confidential information can be freely disclosed.
Without termination, the contract ends when its term expires. Then it is not necessary to sign additional agreements, but sometimes reconciliation acts are concluded for reporting purposes - in practice, this mainly happens if one of the parties has violated the agreement and paid a fine.