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Alan Arnott, founder of Doc Ustream and a technology lawyer at Honest Technology Lawyers in Sydney, discusses the essentials of a heads of agreement template. This template includes clauses ensuring confidentiality regarding each party's confidential information, stipulating that IP rights in confidential information are not assigned to the other party. It clarifies which parts of the agreement are binding and non-binding, specifies timelines for the negotiation of a long-form agreement, and indicates whether the negotiations are exclusive. The firm has extensive experience advising technology and telecommunications clients on legal rights and obligations and drafting various legal agreements.