Menu
Button: Make a Payment Button: Newsletter Mailing List

Icon: Healthcare LawHands-On Experience

Providing legal advice

and services since 1977

Agreements you'll see when selling or buying alarm accounts – Non-Disclosure Agreement / more on Honeywell July 11, 2018

KEN KIRSCHENBAUM, ESQ 
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE 
You can read all of our articles on our website by clicking here
Having trouble getting our emails?  Change your spam controls and whitelist ken@kirschenbaumesq.com
 
 
 
 
Agreements you'll see when selling or buying alarm accounts – Non-Disclosure Agreement / more on Honeywell
July 11, 2018

******************* 
          This is the third article in this series on agreements you should be familiar with when buying or selling alarm accounts or alarm business.  We’ve covered the agreement with your attorney and the agreement with the broker.  
          Next step is the broker starting to introduce potential buyers to the seller. The agreement that you need at this point can be confusing because you need a Non-Disclosure Agreement and the broker and potential buyer may be presenting you with an Exclusivity Agreement instead, trying [knowingly or more than likely not even realizing it] to pass the Exclusivity Agreement as a Non-Disclosure Agreement.  The Exclusivity Agreement will be covered tomorrow because it’s not the next agreement you need.  The Non-Disclosure Agreement is what you need. [Note:  Non-Disclosure Agreement is one of the Standardize Forms you can get at www.alarmcontracts.com].
 
          A seller requires a Non-Disclosure Agreement, NDA, because seller will be revealing all of its confidential and proprietary information and data to a potential buyer; at some point introducing the potential buyer to the seller’s employees, professionals, vendors and even customers.  It makes sense that the potential buyer would agree to maintain this information confidentially, to be used solely to evaluate whether there is interest in a deal, and for no other purpose.  
          The NDA will have several restrictive provisions prohibiting the buyer from using the information. It will have severe penalties if that information is used. A seller should insist on using its NDA, not one provided by a broker and certainly not one provided by a potential buyer.  Get and use your own NDA; it’s designed to protect you, period.  And that’s what is necessary and appropriate.  If the buyer doesn’t want to sign it as is, tell them to look elsewhere.  If the buyer can’t agree to keep your data and information confidential then you shouldn’t be giving any information, and if the buyer is giving you so much trouble at this stage of the transaction just imagine what you’re in store for when you get to the Contract of Sale.
     Not all NDAs read the same.  In fact the Standard NDA I offer has restrictive provisions I have not seen in other NDAs.  You need the protection.
 
********************** 
more on Honeywell 
********************** 
Ken 
    As always, very informative. Now let’s tell everyone why Honeywell plays the "Kit Game". 
    They made agreement with very large alarm companies (ADT) to give them the "BEST PRICE" on individual items. So to remain competitive while being bent over by ADT, they created the "KIT", a purchasing and inventory nightmare causing us all to answer to our customers regarding internet pricing. 
pd 
************************* 
Note: I just want to remind you that you are getting two duplicate emails from me daily because I am trying out two bulk email service companies. I may end up with only one of them but that's not decided yet so please do not unsubscribe from one. That may be the one I end up staying with. So far the two companies seem to reach different addresses. Feel free to delete one email. If you want to unsubscribe you should do it from both emails. You can always read our emails on our website at https://www.kirschenbaumesq.com/page/alarm-articles 
 
 
 
THE ALARM EXCHANGE

alarm classifieds alarm security contractsThis area is reserved for alarm classifieds, alarm company announcements, solicitations, offers, etc. Those wishing to sell or buy; borrow or lend; dealer program or dealer; central stations; insurance brokers; business  brokers, insurance companies. Equipment to sell; looking for employees; subcontractors; mergers;

There is no charge to post a listing here. Include your contact information, phone, email and web site.  If you would like to submit a posting, please send an email to ken@kirschenbaumesq.com.  To create a reciprocal link to our website, click here.
 
 
 
Many of you are forwarding these emails to friends or asking that others be added to the list. Sign up for our daily newsletter here: Sign Up. You can read articles and order alarm contracts on our web site www.alarmcontracts.com

Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301
ken@kirschenbaumesq.com
516 747 6700
www.KirschenbaumEsq.com