Your Quick Guide to Non-Disclosure Agreements

Non-disclosure agreements (NDAs) specify exactly what can and cannot be done with confidential information which is shared between two or more parties. Terms differ depending upon context, but NDAs usually cover the purpose for which information was disclosed, the amount of time it can be used, and how far information can be disseminated by the receiving party within their own organisation.

They will also typically stipulate what will happen in the event of a breach, whether accidental or intentional. This is the main purpose of an NDA, ensuring that one is signed means that everyone understands how far information is spread, and the company which supplies it is protected if anything should go wrong – and able to take legal action if this occurs.

Templates for NDAs can easily be found online, but it’s far better to hire an experienced lawyer to draft it and see it properly filled out and signed. NDAs allow parties to customise obligations, something which is almost always advantageous and which really requires the attention of someone with experience. The document may even prove unenforceable if it wasn’t meticulously drafted by a professional.

Finding an experienced lawyer who can tailor terms allows you to;

  • Define exactly what can be counted as confidential information. A court is not likely to view a document, trade secret, or other piece of information as confidential if it has not been included.
  • Define precisely what the consequences will be if a client breaches the agreement. You will usually be allowed to apply to a court to seek injunctive relief, with the offending party obliged to cover all legal costs.

NDAs are vital to protect important information, whether it pertains to your own company or is just being handled by you. Off-the-shelf options are quite risky, especially when information is particularly sensitive. Instead of leaving yourself open to future difficulties, contact a lawyer with the appropriate experience, and make sure that the final NDA is well drawn-up. You should also ask a lawyer to look over any NDA which you are required to sign for another company.

Comments

No comments yet. Why don’t you start the discussion?

Leave a Reply