D. If the receiving party or its representatives receive a request for disclosure of all or part of the Confidential Information pursuant to a valid and effective subpoena or order issued by a court of competent jurisdiction or governmental authority, the receiving party agrees to the following: A joint venture agreement or mutual cooperation agreement is the agreement between business entities, whose objective is to achieve a desired result for both parties. IN WITNESS WHEREOF, the parties acknowledge their agreement to the foregoing from the above date by signing the Agreement through their respective authorized representatives. There are countless ways for the parties to reach mutual agreement. If the parties entering into a mutual commercial agreement intend to disclose sensitive information such as customer lists, trade know-how, supplier lists or trade secrets, a confidentiality clause should be included in the mutual commercial agreement. That clause should specify what information is considered confidential, who has access to that information, how the information may be used and how it will be treated after the termination of the agreement. A non-disclosure agreement should specify the consequences of accidental or intentional disclosure of confidential information. Although we have provided you with the above meaning by mutual agreement, it is very important to deepen our knowledge with some examples. Let us say that if an agreement was made between forces or nations, it would be on a large scale, if not if it was made between couples, only on a small scale, so that the basic writing would suffice. Undoubtedly, there are so many examples of mutual agreement, such as; A company has an excellent business strategy and research, but it lacks resources, it will be in contact with another company or another company has advanced technology, capital and market value, so they work together for mutual exchange. While companies can sign a mutual agreement just before starting a joint venture, as Google and LG did with the launch of Nexus 5.
In addition, the agreement between the companies could be at a temporary level or they could also conclude a contract of indefinite duration. C. The obligations set out in Section B do not apply to the following information: B. Unauthorized disclosure or use, whether intentional or unintentional, of any of the Confidential Information will be detrimental to the disclosing party. As a result, each party agrees: when we say in contract law that the parties have entered into a «mutual agreement» or that there is «mutual consent», we are referring to the fact that the parties have entered into an agreement that may be the basis of an oral or written contract. In contract law, a mutual agreement refers to an agreement or agreement between two or more parties to be legally obliged to do or not to do something. When negotiations begin, companies usually begin signing a non-disclosure agreement or non-disclosure agreement. In other words, if two physical or commercial companies enter into a mutual commercial agreement in which one party agrees to perform certain obligations in exchange for a particular consideration (and vice versa for the other party), the obligations of the parties become legally binding and enforceable.
In general, trading partners draft a mutual agreement in a very individual manner, tailored to the specific needs of their trade agreement. Finally, when the objective of the mutual agreement is achieved, the commercial contract is terminated or the parties sign a mutual discharge that releases each other from the contract. For an explanation of this Agreement, see Privacy Agreement Information Package Overview. The parties may also consider adding a mutual discharge clause to their business agreement, depending on the circumstances. A discharge clause is essentially just a promise not to sue. A well-formulated mutual discharge clause should specify what types of claims companies do not assert and what types of claims are considered appropriate for legal action. For example, companies may agree to indemnify each other for all claims related to third parties, but agree that they may sue each other for breach of contract based on the terms of the mutual business agreement. That`s all on your side! Our AI-based app can take it from here.
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