Form 7: Confidentiality and Nondisclosure Agreement
The use of confidentiality and nondisclosure agreements is common in the mining and oil and gas industries, but before Form 7 there was no standard printed form. Form 7, written by a group of mining and oil and gas practitioners, is a useful tool for both industries. It is designed to work in various circumstances in connection with disclosure and review of information and data, including data room situations, soliciting offers for property sales and prospect disclosures, and determining the feasibility of joint participation activities. It is not intended to be a joint venture or other agreement whereby the parties agree to a continuing relationship, but rather a framework for information disclosure to investigate whether a continuing relationship is warranted. Form 7 includes a brief discussion of areas of law to review prior to use, and includes suggested readings. It also contains observations on its use as well as additional provisions to consider when using the Form (nonsolicitation of employees, standstill provisions, limitation of term, area of mutual interest, arbitration).
Published December 1996 – 8 pages (Word)
Order No. F7
Published December 1996 – 8 pages (Word)
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