Depevelop Phase: Selecting a Contract Type - Preliminary agreements
3 important questions on Depevelop Phase: Selecting a Contract Type - Preliminary agreements
Which type of preliminary agreements exists?
- Non-disclosure agreements
- Memorandum of Understanding
- Letter of Intent
What is a NDA and where are they used for?
A Non-disclosure agreement is often entered into, to protect sensitive commercial information.
They are meant for mutual obligations, clarity about what is confidential and the period of protection for commercially sensitive information.
They are meant for mutual obligations, clarity about what is confidential and the period of protection for commercially sensitive information.
When is A Memorandum of Understanding and/or Letter of Intent useful?
It document the preliminary understanding of the intent of the commercial arrangement. Their main purpose should be to simply identify and document the key business and contractual issues that will form the basis of a formal contract.
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