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www.contratoseningles.com
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INTERNATIONAL
CONTRACTS
Steps to aDefinitive
Agreement
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STEPS TO A FINAL AGREEMENTSTEPS TO A FINAL AGREEMENT
y Nondisclosure Agreement
y Term Sheet
y
Letter of Intenty Memorandum of Understanding
y Final Contract or
y
Definitive Agreement or Execution Copyy Which of these is a contract?
Partially binding clauses
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El Acuerdo de Confidencialidad
y Por qu son necesarios los Acuerdos de
Confidencialidad si hay regulacin legal al
respecto?
y Cmo podemos identificar bienesIntangibles a proteger en el acuerdo?
y Es necesario implantar medidas de
seguridad slidas para la organizacin?y Puesta en prctica medidas de
cumplimiento y seguimiento
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NONDISCLOSURE AGREEMENTNONDISCLOSURE AGREEMENT
y NDA or CDA
y What is its purpose?
y
What kind of information?y Proprietary information
technical or commercial
confidential
y But dont we already have legal protection
for this?
RR2
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Slide 5
RR2 Raissa Rouse, 11/29/2006
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Intellectual PropertyIntellectual Propertyy Public registration of intellectual
property:
Copyrights
x original works of authorship Trademarks or service marksx protect words, names, symbols, sounds, or colors
that indicate the source of the goods
or Patent rightsx inventions and processes
in order to secure exclusive use for a fixed period oftime
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Secrecy AgreementsSecrecy Agreementsy Information that may not be
protected by IP law but have value tothe company?
x TRADE SECRETS how defined?y Anything with independent economic
value derived from the fact that it isnot widely known or easily obtained
y Trade secrets need never be revealedto anyone.
y FUTURE copyrights or patents are
not legally protected
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Confidentiality AgreementConfidentiality Agreementy INTERIM FORM of protection
y For whom?
y
provided to the business people sofeel free to have discussions w/ocompromising the company
y professional discussion and
collaborationy as well as commercialization
efforts.
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moremore permanentpermanent protection protection
Public registration or
License Agreement
Definitive Agreement isentered into with its
own confidentialityclause
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DRAFTING ELEMENTSDRAFTING ELEMENTS
y Long form versus Short form
y Mutual v. Non-Mutual Cf. unilateral v. bilateral contract
y Bilateral Contract = promise for a promise
Enforceable in a court of law
y
Unilateral contract Enforceable upon performance
Ex. Listing agreement for the sale of realproperty
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11.. The parties to a NDAThe parties to a NDA
y Identify the parties who is bound?
y PBC Clauses 1 and 9
y This Agreement shall be binding upon theparties and their respective affiliates and
Representatives
y COSYSTEMS preambley and its wholly owned subsidiaries
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Other examples .Other examples .
y As used herein, the term shall mean
any and all financial, technical,
commercial or other information
concerning the business and affairs ofCorporation or its holding company, its
subsidiaries or its affiliates
(collectively, the "Company"), that hasbeen or may hereafter be provided or
shown to you
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Parent CompanyParent Company
yWalt Disney Corporation
40% of the HistoryChannel
80% stake in ESPN100% Disney Channel
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Degree of OwnershipDegree of Ownership
y Holding company
y Parent Company
y Wholly owned subsidiary (100%)y Subsidiary (majority shareholder
50%+)
What about corporate subsidiary? Include LLC?
y Affiliate or associate (minority stake
>50%)
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2.2. Who has access to confidentialWho has access to confidential
material?material?
y PBC:And that prior to being given access [] shall be
informed of the confidential nature of suchEvaluation Material and agree to be bound by the
terms of this Agreement. (Clause 1 and see 2(b))y COSYSTEMS:
Clause 4: need to have access Employment NDAs
yStandard: employeeswitha need to know
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3.3. PURPOSEPURPOSE what can I do with thewhat can I do with the
CI?CI?
y no use clauses
y PBC clause 2(a);
y Except for purpose evaluating possible
transactiony Cosystems 3;
y Purpose:
y fill in blank
x Destinacin???
yStandard: forpurposes ofevaluating transaction
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4.4. SCOPESCOPE how shall I care forhow shall I care for
CI?CI?y Scope: the strength of NDA degree of care
PB
C: clause1
x imperative material remainconfidential
x
See clause 4 Cosystems: Clause 4
xemployment NDAs to assure
against unauthorized use
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Standard language:Standard language:
yRecipient should agree to
protectthe confidential
information in a mannersimilarto the way the
R
ecipient protects its ownconfidential information
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55.. DEFINITION OF CONFIDENTIALDEFINITION OF CONFIDENTIAL
INFORMATIONINFORMATIONy Written or tangible form:
provided that information disclosed by thedisclosing party (Disclosing Party) in written orother tangible form will be considered Confidential
Information by the receiving party (ReceivingParty) only if such information is conspicuouslydesignated as Confidential, Proprietary or asimilar legend.
y Oral disclosure:
Information disclosed orally shall only beconsidered Confidential Information if:(i) identified as confidential, proprietary or the likeat the time of disclosure, and (ii) confirmed in
writing within thirty (30) days of disclosure.
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Definition contd.Definition contd.
y See PBC where defined? Evaluation Material is defined in the Recitals!
y More standard:As used in thisAgreement,the term"Company Information" meansall information furnished by theCompany to the undersigned,and all further informationwhich is based on orderivedfrom such information,otherthan (a) [exclusions follow]
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due to its nature due to its nature
y Confidential Information, as used at all places inthis Agreement, shall mean the terms of this Agreementand any other information disclosed by one party to theother party that is either designated as confidential orproprietary or that, due to its nature and/or the
circumstances in which it is disclosed should beconsidered confidential. It shall include, but not belimited to, any and all methods, processes, strategies,equipment, plans, formulas, software, programs, sales andmarketing information, technical information, financialinformation, data, know-how, documentation and other
information disclosed after the date of this agreement,whether disclosed visually, orally, or in writing, whetheror not tangibly recorded.
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Problem?Problem?y In the course of evaluating the Transaction, and if consummated,
performing in accordance with the terms to be negotiated for theTransaction, the Recipient will have access to, among other things,certain of the Owner's confidential and proprietary businessdocuments and information, including, but not limited to, marketingdata, financial information, sources of supply, technologies, products,
know-how, product specifications, trade secrets, current and futureproduct marketing plans, current and future research anddevelopment, and product characteristics and specifications, all ofwhich are or may be deemed to be confidential and proprietaryand are owned and used by or are exclusively licensed to theOwner. Such information shall be referred to hereinafter as"Proprietary Information" and shall also include any and all other
confidential and proprietary information relating to the businessconducted by the Owner; the terms or details of the Transaction,the fact that the parties have entered into discussions regarding theTransaction, and the details of such discussions;
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66.. EXCLUSIONSEXCLUSIONS
y PBC Cl. 5 and CoSystems Cl. 5y Available to the publicy Available to the recipienty
Independently developed See clause 5 (iv) Cosystems The Discloser may require a certain
level of proofbefore such information
is considered non-confidential See clause 7 (end) Why not draft together or make
reference?
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7.7. As is As is
y PROPRIETARY INFORMATION ISPROVIDED AS IS. NO WARRANTIESARE MADE BY EITHER PARTY. THEOWNER ACCEPTS NO RESPONSIBILITY
FOR ANY EXPENSES, LOSSES ORACTIONS INCURRED OR UNDERTAKENBY RECIPIENT AS A RESULT OFRECIPIENTS USE OF PROPRIETARYINFORMATION.
y Confidential Information may be preliminaryor incomplete and relate to products underdevelopment or planned for development.
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CoSystemsCoSystems
y 9. DISCLAIMER. CONFIDENTIALINFORMATION IS PROVIDED AS IS WITH ALLFAULTS. IN NO EVENT SHALL THE DISCLOSINGPARTY BE LIABLE FOR THE ACCURACY OR
COMPLETENESS OF THE CONFIDENTIALINFORMATION.
y None of the Confidential Information disclosed bythe parties constitutes any representation, warranty,
assurance, guarantee or inducement by either partyto the other with respect to the infringement oftrademarks, patents, copyrights, any right of privacy,or any rights of third persons.
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Purpose of these disclaimers?Purpose of these disclaimers?
As is magic words x Representations and warranties
Fraud in the inducement claimsx cf. Vicio en el consentimiento
Misrepresentation claims
Both are extra-contractual remedies awardingdamages beyond contract damages
Cf. culpa in contrahendo doctrine under civil law
Should use these clauses on businesspresentations!
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Intellectual PropertyIntellectual Property
y Recipient acquires no intellectual property rights underthis Agreement except the limited rights necessary toevaluate the Transaction and to perform thereunder ifthe Transaction is consummated.
y
But see CoSystems 7 exception:y Further, subject to Section 8, the residuals resulting from
access to or work with such Confidential Information shallnot be subject to the confidentiality obligations contained inthis Agreement. The term residuals means information in
non-tangible form, which may be retained by persons whohave had access to the Confidential Information, includingideas, concepts, know-how or techniques contained therein.Neither party shall have any obligation to limit or restrict theassignment of such persons or to pay royalties for any work
resulting from the use of residuals.
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8.8. TERMTERM cf. NDAscf. NDAs
y Long enough to protect interest of
disclosing party
y Not unduly burden recipient
y Indefinite or perpetual term upheld?
Trade secrets
y Return or destruction of material
electronic software cleaning programs and allcopies of Confidential Information shall be
purged from the recipients eleltronic or
magnetice media or storage devicess -
y
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INJUNCTIVE RELIEFINJUNCTIVE RELIEF --see clause 8 ofsee clause 8 of
PBCPBCy Equitable remedy
Legal remedy what is usual contract remedy?
money damages - insufficient
y Extraordinary relief Ex parte - inaudita parte (from Latin: inaudita
altera pars)
Prevent irreparable injury
Temporary restraining order (TRO)
y Waive posting bond or other securityy Specific performance:
fulfillment of agreement
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OTHER PROVISIONSOTHER PROVISIONS
y Choice of Law
y Forum selection clause Forum non conveniens
y Severabilityy No License
y Entire Agreement
Check the definitive agreement What about Expiration or Termination?
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Summary:Summary:
y 1. The parties
y 2. Access to confidential material
y 3. Purpose
y 4. Scope
y 5. Definition of confidential information
y 6. Exclusions
y 7. Disclaimers
y 8. Term
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Breach of clause 7 of theBreach of clause 7 of the
confidentialityconfidentiality agreementagreementy That no approach or contact direct or indirect in
connection with or during our discussions or whilst
any confidential information remains in the
possession or under the control of any relevantperson shall be initiated, accepted or made by or on
behalf of any relevant person to or with any
employee, client or supplier of yours or any
government body or regulatory or other authority orto or with any other person who to our knowledge
has any actual prospective connection with you
without your prior written consent.
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CPM v Ricoh 2010CPM v Ricoh 2010 EWHC 1743EWHC 1743
((ChCh))y Ricoh must not contact any CMP client
or company with a "prospective
connection" with it without CMP's
permission.y Ricoh chose to submit a bid without CMP.
y the agreement was so widely framed that
it broke EU rules on restriction of trade,as contained in the Treaty on the
Functioning of the European Union
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Holding company
Subsidiaries
Affiliates
Representatives
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RASSA ROUSE, ESQ.
[email protected] INSCRITACOLEGIO ABOGADOS SEVILLA(2010)
SOLICITOR INENGLAND AND WALES (2009)
ATTORNEY AT LAWFLORIDA(1995)
COUNSELOR AT LAWLOUISIANA(1989)
PROCTOR INADMIRALTY(1988)
Business Legal Advice: contratacin internacional