Nondisclosure Agreement
- Effective: ____________________
- Recipient: ____________________
- Advisor: Southard Offices LLC, a Tennessee limited liability company
- Business: A yoga studio in Tennessee offered for sale through Advisor
The owner is glad to share the Business's name, location, and financials so Recipient can decide whether to buy it. In return, Recipient agrees to one thing: keep it private.
1. Keep it private
Everything Recipient learns about the Business through Advisor or the owner is confidential. That includes the memorandum and everything in it, the Business's name, location, and owner, its financials, and the fact that it is for sale at all.
Recipient will use the information only to consider buying the Business. Recipient may share it with an attorney, accountant, lender, or partner helping with that decision, so long as they keep it private too. No one else.
2. Courtesy to the owner
News of a sale can hurt a business if it gets out early. Staff, members, and the community should hear it from the owner, at the right time. Until then, Recipient will bring any question about the sale to Advisor rather than to the owner, the staff, or anyone else connected to the Business.
3. Common-sense limits
Information that is already public, that Recipient already knew, or that the law requires Recipient to disclose is not restricted. This agreement lasts two (2) years from the Effective Date. Tennessee law governs, and the owner may enforce this agreement the same as Advisor.
4. Signing electronically
Typing or drawing a name on this page is Recipient's signature, and under the federal ESIGN Act and the Tennessee Uniform Electronic Transactions Act it carries the same legal force as a handwritten one. Recipient consents to receive this agreement and the memorandum by email at the address provided. Advisor accepts this agreement by sending the memorandum.