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No Fault Agreement
"I need a No Fault Agreement under Philippine law to dissolve a tech startup partnership between three co-founders, including provisions for IP rights distribution and ongoing confidentiality obligations, with the separation to be effective from March 1, 2025."
1. Parties: Identifies and defines all parties to the agreement, including their legal status and addresses
2. Background: Outlines the context of the agreement and the general nature of the matter being resolved, without attributing fault
3. Definitions: Defines key terms used throughout the agreement
4. Mutual Releases: Details the scope of claims being released by all parties
5. No Admission of Liability: Explicitly states that the agreement does not constitute an admission of liability by any party
6. Consideration: Specifies any financial or other consideration being exchanged as part of the agreement
7. Confidentiality: Sets out obligations regarding the confidentiality of the agreement and its terms
8. Future Conduct: Describes how parties will interact or conduct themselves following the agreement
9. Entire Agreement: Confirms that this document represents the complete agreement between the parties
10. Governing Law: Specifies that Philippine law governs the agreement
11. Execution: Signature blocks and execution formalities
1. Non-Disparagement: Used when parties wish to explicitly prohibit making negative statements about each other
2. Return of Property: Include when there is physical or intellectual property to be returned between parties
3. Social Media/Public Statements: Used when there are concerns about public communications or social media posts
4. Cooperation in Legal Proceedings: Include when parties may need to cooperate in ongoing or future legal matters
5. Insurance Claims: Required when insurance companies are involved or claims may be made
6. Third Party Rights: Include when the agreement affects rights of parties not directly signing the agreement
7. Severability: Optional clause to preserve remainder of agreement if any provision is found invalid
1. Schedule A - Released Claims: Detailed list of specific claims being released
2. Schedule B - Settlement Payment Details: Payment amounts, methods, and timing if applicable
3. Schedule C - Property List: Itemized list of any property to be returned or transferred
4. Schedule D - Confidentiality Exceptions: List of permitted disclosures or exceptions to confidentiality
5. Appendix 1 - Form of Release: Standard form for any additional releases required
6. Appendix 2 - Deed of Undertaking: Form for any additional undertakings required by the parties
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Company Secretary
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Dispute Resolution Officer
General Manager
Chief Financial Officer
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