Non-Disclosure Agreement (NDA) (bilateral)
This Non-Disclosure Agreement (NDA) is a contract by which both parties undertake to maintain the confidentiality of the information exchanged between them.
The receiving party agrees not to disclose, not use and not exploit the confidential information, except in agreed circumstances or with the consent of the other party.
The Non-Disclosure Agreement (NDA) is employed to safeguard sensitive or confidential information of one party and to establish the responsibilities and obligations of each party regarding the confidentiality of such information.
As a general rule, the receiving party commits to not disclose, use, or exploit the confidential information, except in circumstances allowed by law or agreed upon with the disclosing party. Some benefits that an NDA can bring to your projects or business include:
Boost for Success: the Non-Disclosure Agreement (NDA) provides an efficient tool for safeguarding any type of confidential information related to a business, project, or other collaborative efforts.
Extensive scope of protection. An NDA serves as a means to protect an extensive range of information, going beyond those already covered by legal protection regimes, such as intellectual property rights or trade secrets. Through a confidentiality agreement, you can safeguard:
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financial information: accounting and financial data, financial strategies or forecasts, budgets or project expenditures.
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marketing and sales data: marketing strategies, information about clients or partners, data regarding the launch plans for products or services.
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human resources information: employee and leadership team information, details about employment contracts or internal policies, human resources development plans or compensation details.
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contracts and business agreements: details of contracts with third parties, specific clauses and terms within business agreements, the subject and purpose of such contracts.
Discouraging unauthorized disclosure: by signing a confidentiality agreement (NDA), the involved parties assume responsibility for protecting confidential information, effectively discouraging unauthorized disclosure, as it is enforceable under the law.
Remedies against disclosure: if one party breaches the confidentiality agreement, the injured party has the right to seek compensation for the damage caused. The damages can be predetermined by the parties through a penalty clause (usually a fixed amount agreed upon regardless of the actual damage), or they can be calculated based on the rules provided by civil law or as mutually established.
Utilizing an NDA in these scenarios ensures a clear understanding of the protected information, sets expectations for responsible handling, and establishes legal remedies in case of breaches, contributing to a more secure and trustworthy collaborative environment.
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