Confidentiality Agreements and NDAs
Confidentiality agreements, often referred to as non-disclosure agreements or NDAs, are important to businesses that have trade secrets. Businesses must sometimes reveal sensitive information about their methods, strategies, procedures, or products and do not want any information of theirs to be leaked to another party. In that kind of delicate situation, confidentiality agreements protect their business. There are many kinds of confidentiality agreements used in various industries. Confidentiality agreements may be carried out between a business and its employee(s), between a business and contractors, or between a two or more businesses working together. Sometimes confidentiality agreements contain provisions continuing the duration of the confidentiality agreement even after the two businesses ended their relationship and describing compensation for damages due to a breach.
Generally, confidentiality agreements specify the names of the parties, the date of the contract, the time-frame the information must be kept confidential, the nature of the confidential information, the circumstances under which the obligation applies, any exceptions to the agreement, and any remedies that can be enforced due to a breach of the confidentiality agreement. However, any kind of clause or provision may be added to the confidentiality agreement, provided it is legal.
Just like any other contract, confidentiality agreements should only be signed once the person or party understands it wholly. Raheen Law Group can assist clients with reviewing and understanding prior to signing a confidentiality agreement to preserve your rights, interests and needs. At Raheen Law Group, we can also assist in drafting and creating legally binding confidentiality agreements.
If you require the guidance of an experienced attorney in understanding, creating, or enforcing a confidentiality agreement or NDA, contact us for a consultation.