NDA Solicitors – Non-Disclosure Agreements and Confidentiality Agreements
At South Bank Legal our confidentiality agreement solicitors routinely draft and advise on confidentiality and non-disclosure agreements. A non-disclosure agreementNDA / non-disclosure agreement: a legal agreement between tw..., or NDA, is a tried and trusted way for potential commercial partners to exchange highly confidential business information whilst protecting the secrecy of that information.
NDA’s are business contracts used in a number of commercially sensitive situations, including where companies are evaluating potential acquisition targets, considering whether to enter into a joint venture agreement or considering whether to licence valuable IP such as software.
Although budget template confidentiality agreements are available online, businesses seeking to safeguard their trade secrets, intellectual propertyintellectual property: a piece of work or a creation by th..., know-how and confidential processes should be alive to the potential complexities of confidentiality agreements. An appropriately drafted confidentiality agreement will:
- accurately define the confidential informationconfidential information: commercially sensitive information... that is being protected; an effective NDA will expressly classify business secrets, know-how and other private and sensitive material as confidential, but will not go too far by seeking to protect information that is incapable of protection (for example, information already in the public domain or which the receiving party already knew);
- clearly define the purpose for which the confidential informationconfidential information: commercially sensitive information... can be used; usually this purpose – often referred to in NDA’s as the “permitted purpose” – will be limited to the parties evaluating the particular business opportunity at hand, so the information cannot be used for any other purpose;
- succinctly describe how the confidential informationconfidential information: commercially sensitive information... can be handled; for example, can a party receiving confidential informationconfidential information: commercially sensitive information... make copies of it, store the information on its servers and to what extent can it divulge the information to its employees?
- regulate the duration of the agreement and the point at which the parties’ confidential informationconfidential information: commercially sensitive information... must be returned or destroyed.
Where a party breaches its obligations pursuant to a confidentiality agreement, remedies are available for breach of confidencebreach of confidence: in litigation and dispute resolution, ..., including financial compensation and injunctive relief to prevent further unauthorised disclosure. This is where an expertly drafted NDA can make all the difference, however our solicitors specialise in breach of confidencebreach of confidence: in litigation and dispute resolution, ... claims and can take steps to protect your privacy and confidential informationconfidential information: commercially sensitive information... even where no agreement exists.
If you have been asked to sign and NDA or require one in order to discuss and advance an opportunity on behalf of your business, please get in touch with a commercial lawyer at South Bank Legal today for a confidential discussion.