PRACTICE DETAILS
- Lawyer Mr. Shaman Jain
- Skills Agreements
- CATEGORY Legal Documents
ABOUT THIS PRACTICE
A non-disclosure agreement (NDA) refers to a legal contract which declares the confidential information and the limit to which information can be revealed to third parties. One can enter NDA with either a person or an organization.
Confidential information includes trade secrets, business plans, business methods and strategies, drawings, charts and more. Software programs and codes also fall under the category of confidential information.
- Details regarding parties of the contract.
- Details concerning the information which is protected through the agreement.
- Information about the termination, jurisdiction, etc.
The lawyer drafts NDA based on the information provided to him /her and in case NDA requires any changes or faces issues in approval it is sent back . The lawyer makes the necessary changes and sends it back for final approval. The document is signed by both the parties once approved.
A signed Non-Disclosure agreement will be the best protection of the information in 3 ways:
- It emphasises on the importance of nondisclosure or confidentiality.
- It warns the parties about the consequences of disclosing information to others.
- It serves as a valid proof in court when a violation takes place.
Non-disclosure agreements are commonly signed or entered between:
- Two or more companies.
- Two or more than two individuals.
- Other entities (such as partnerships etc.) who are considering doing business with each other.
- It is also likely for employees to sign a Non-Disclosure Agreement with an employer for not disclosing company-owned confidential information.
A non-disclosure agreement (NDA) may be categorized as
- Unilateral
- Bilateral
- Multilateral
The common issues included in a Non-Disclosure Agreement (NDA)inter-alia are:
- The description of what is to be kept confidential, i.e. the information to be held confidential.
- The non-disclosure period i.e. the period if any till which the information has to be kept confidential.
- The exclusions and inclusion from what must be kept confidential and what not.
- Provisions confining the transfer of data in violation of laws regulation and national security.
- The term (in years) the agreement is binding on all parties to it; consent to be obtained for ex-parte injunctive relief.
- Description of the actions need to be done with the confidential materials upon agreement ending.
- It protects your information.
- NDA agreement decides on what information parties wish to reveal to others.
- NDA agreement lets the parties decide on what a "confidential information" is such that both parties are clear about which information should be considered as confidential and must remain undisclosed.
