Gazyk | Non-Disclosure Agreement Policy
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Non-Disclosure Agreement Policy

A Non-Disclosure Agreement (“NDA”) or Confidential Disclosure Agreement (“CDA”) generally provides that the receiving party will hold information in confidence and will not use that information for any purpose other than as permitted by that Agreement.

It is Gazyk policy not to enter into negotiations concerning NDA’s unless appropriate prior management and legal approval has been obtained. In our business we can distinguish three categories of NDA’s:

  1. Unilateral NDA’s that protect Gazyk information
  2. Unilateral NDA’s that protect the other parties’ information
  3. Bilateral NDA’s that protect both parties’ information

For example, NDA’s are necessary when:

  • Gazyk decides to outsource goods, work and/or services; or
  • Gazyk decides to sell part of its business; or
  • Gazyk decides to bid for goods, work and/or services for which it requires Customer’s information and/or specifications; or
  • Gazyk receives confidential information for the purpose of determining whether such information could be used in developing a new product or service; or
  • Gazyk is interested in purchasing a business (or part thereof) from a third party; or
  • An outside party and Gazyk decide to jointly develop technology.

In negotiating an NDA, the definition of what constitutes confidential information and the permitted use of such confidential information must be described in detail. The actual exchange of information should be carefully organized, documented and monitored. Employees authorized to have access to such information must be clearly identified and limited to those who have a “need to know.” Each person with access to such confidential information must strictly comply with the provisions of the agreement.

Any violation of this Policy may subject the employee to disciplinary action.