If you need a Confidentiality Agreement or Non-Disclosure Agreement or need to know more about them you are in the right place.
You might need a Confidentiality Agreement (also known as a Non-Disclosure Agreement or NDA) for a number of reasons.
As the name suggests, the purpose of the agreements is for the other party to keep the information you are sharing with them confidential and to not disclose the information to any other party. Here are 5 situations in which you might need a Confidentiality Agreement.
5 situations in which you might need a Confidentiality Agreement
- you are developing a new product and need to share your ideas, designs etc with potential investors, partners, suppliers etc
- you are considering selling your business and want to share confidential information with potential purchasers
- you are franchising your business and want to share confidential information with the potential franchisee
- you are taking on a freelancer and need to disclose confidential information about your business and your clients' businesses in order for the freelancer to do their job properly
- you are in negotiations with a joint venture partner and need to share confidential information
There are also situations in which you don't need a Confidentiality Agreement and these include working with professional advisors such as lawyers for small business legal advice and accountants as they are already bound by confidentiality duties imposed by their regulatory bodies.
You may need a mutual Confidentiality Agreement if both parties are disclosing confidential information, for example in the joint venture negotiations you are likely to receive confidential information from the other party as well as disclosing your own confidential information.
If you need a Confidentiality Agreement you can
