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Non-disclosure Agreement

{An agreement to prevent disclosure of information that is confidential/ proprietary}

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Companies work with a lot of external professionals on various tasks involving skill, expertize and special knowledge. During course of such association, information like products, designs, marketing plans, finances, strategies, promotional campaigns etc. are shared with these professionals. A Non-disclosure agreement is a legal agreement that outlines the information that is confidential and restricts the disclosure of such information to third parties. These are often signed by Companies with external professionals/ other companies while discussing a potential business partnership or tie-up for a particular task. A Non-disclosure agreement typically mentions information that will be confidential, restrictions on its sharing and exceptions under which the information can be shared. It is also known as Confidentiality/Proprietary information or Secrecy Agreement.

 

When is a Non-Disclosure Agreement required?

Non-disclosure Agreement is normally required in following circumstances-

  • when parties are exploring a potential tie up for a task
  • tie up will require disclosure of information by one party
  • that information is confidential to the disclosing party
  • disclosing party intends to keep the information confidential

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Benefits of executing Non-disclosure Agreement

  • confidential information is defined
  • information can be protected
  • clear intent to prevent disclosure of confidential information
  • exceptions for disclosure also defined

Note :-

  • Draft template will be provided in soft copy
  • Extra charges will apply for customized document