| Commentary

114 Confidentiality

| Commentary

114 Confidentiality

A form of confidentiality agreement will be required to cover the due diligence stages of the share sale procedure. Due diligence will almost certainly involve the buyer or his advisers examining information in relation to the company, and any subsidiaries, which is not in the public domain. The seller’s problem is that, unless the buyer enters into an enforceable undertaking of confidentiality, the buyer will generally be under no duty of confidentiality in relation to such information. Accordingly, it is standard for the seller to obtain confidentiality undertakings from the buyer, either in the form of a confidentiality

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