The Parties shall us e the Confidential Information only for the Business Relationship. The obligations of the Parties under this Agreement shall continue and survive the completion or abandonment of the Business Relationship and shall remain binding for a period of two (2) y ears from the Effective Date. Whenever sensitive information needs to be shared between two parties it is a good idea to use a confidentiality or non-disclosure agreement. This agreement will help formalize the relationship and provide legal remedies if the confidential information is released. The Volunteer Non-Disclosure Agreement (Confidential) Template can be used to explain to volunteers the responsibility involved when being exposed to a Company’s Trade Secrets or Confidential Information. In addition to making sure such obligations are spelled out, this document will also seek the Volunteer’s binding Signature.
A Non-Disclosure Agreement, also sometimes called a Confidentiality Agreement, is a document used when two people or companies enter into a new (or potential) business relationship. It protects the rights of either one or both of the parties that will be revealing confidential information in the course of their negotiations or relationship. In most business relationships, especially at the beginning, one or both parties end up revealing detailed commercial information and otherwise secret confidential information in order to give the other party the most knowledge possible to decide whether to pursue a relationship. Non-Disclosure Agreements can help both parties feel comfortable revealing such information, so that commercial negotiations can continue openly and honestly.
A Non-Disclosure Agreement makes it so that the party receiving the confidential information isn't permitted to disclose it to anyone else or use it in any unauthorized way. There are two specific categories of information that are treated differently in Non-Disclosure Agreements - general confidential information and trade secret information - and a good NDA will make sure to carve out separate protections for these separate categories. For the start of a new business relationship in the digital age, a Non-Disclosure Agreement is a great asset to have.
How to use this document
When deciding to enter into a new business relationship (or at the start of such a relationship), either party can use a Non-Disclosure Agreement to help protect private commercial information. In this document, the form filler will enter the identifying details of each of the parties, as well as the length of time the parties would like the agreement to run. This Non-Disclosure Agreement is robust, and will help ensure that any secret business information stays secret when two parties are beginning a new commercial relationship.
The parties can also mark whether they would like to protect any special 'Trade Secrets.' A trade secret is something like a recipe or formula or process that gives someone an advantage over competitors - and something that isn't public information to customers. Trade Secrets get even more protection than typical confidential business information, so if one party has something very specific to their business that they need to obtain or maintain a commercial advantage, this Non-Disclosure Agreement will also help protect that.
After this agreement is filled out, it is a good idea to have it printed and signed by both parties. Then, a best practice would be for each party to keep a copy.
Applicable law
Non-Disclosure Agreements are subject to the laws of individual states. There is no one federal law covering Non-Disclosure Agreements. In some states, Non-Disclosure Agreements will be interpreted under laws applying specifically to these type of documents. In other states, Non-Disclosure Agreements will be interpreted according to the general rules of contract law.
There is, however, a Uniform Trade Secrets Act, which is a model act that has been adopted by the majority of the U.S. States and the District of Columbia.
How to modify the template
You fill out a form. The document is created before your eyes as you respond to the questions.
At the end, you receive it in Word and PDF formats for free. You can modify it and reuse it.
This document protects confidential information disclosed by individuals or businesses to each other during evaluation of business opportunities, negotiations, prior to investment or entering into transactions with each other. It creates an enforceable agreement between the parties that they will not disclose or use any confidential information for any purpose other than that set out in the agreement.
Non-Disclosure Agreements (NDAs), also known as Confidentiality Agreements, help parties feel comfortable revealing confidential information with commercial value that they might otherwise keep secret, so that commercial negotiations can continue openly and honestly.
Some examples of situations where a NDA/Confidentiality Agreement might be needed include:
(a) where a company is engaging a new employee or contractor who will have access to secret information, trade secrets or other valuable commercial information of the company;
(b) where two parties are investigating the possibility of an investment or business sale agreement with each other, and wish to discuss commercially sensitive information;
(c) where a new start-up or inventor has an idea it wishes to discuss with another party to test the possibility of an investment or partnership.
A Confidentiality Agreement makes it so that the party receiving the confidential information isn't permitted to disclose that information to anyone else or profit from the use of that information in an unauthorised way.
Like other contracts, confidentiality agreements require consideration which broadly means that a party must receive something in exchange for not disclosing information, this may be payment for provision of services, or even grant of an opportunity to evaluate a proposed investment.
How this document should be used
It can be used either where only one party is disclosing information (a 'one way' disclosure) or where two parties are sharing information with each other (a 'two way' disclosure) and can be modified to insert special terms that ensure that employees and clients cannot be approached or poached following any disclosure.
Once all the information has been filled in, the Non disclosure agreement would need to be printed on non-judicial stamp paper or e-stamp paper where such e-stamp paper is available in certain states. The value of the stamp paper would depend on the state in which it is executed. Each state in India has provisions in respect of the amount of stamp duty payable on such agreements. Information regarding stamp duty payable can be found on the State government websites. For instance, the website of the state of Karnataka provides details of stamp duty payable on agreements.
Once the document is printed on the stamp paper, a printed copy of this document should be signed by the party which wishes to protect its confidential information and sent to the other party who will be receiving confidential information. That second party should then also sign and return a copy of the agreement. Alternately, both parties can meet and sign the document together.
Where the parties are companies, only the persons authorised by board resolutions should sign the agreement on behalf of the company.
Free Confidentiality Agreement Template Pdf
Applicable laws
The broad principles of contract under the Contract Act, 1872 and restraint of trade are applicable to non disclosure and confidentiality agreements.
Confidentiality Agreement Template Word
How to modify the template
You fill out a form. The document is created before your eyes as you respond to the questions.
Free Printable Confidentiality Agreement Form
At the end, you receive it in Word and PDF formats. You can modify it and reuse it.