Confidentiality and NDA Review
May 2011 sees the first in a two-part release of a series of new and updated confidentiality and non-disclosure agreements from Simply-docs. Many of our existing confidentiality documents have been reviewed and updated ranging from simple confidentiality undertaking letters to comprehensive agreements. Three new non-disclosure agreements (NDAs) have also been created, designed for use in a broad range of scenarios protecting an equally broad range of information. All of these new and updated documents are available through the links to the right.
The Importance of NDAs
Intellectual property is always the first port of call for protecting proprietary business information. Anything which is recorded in writing will be protected by copyright. Furthermore, designs and inventions can be protected by registration as either registered designs or patents.
The importance of such protection should not be underestimated; however an additional layer of protection will frequently be required as IP protection merely ensures that ideas cannot be copied; it does not stop them from being disclosed to other parties.
By using confidentiality or non-disclosure agreements (NB: these terms are synonymous), information, whether protected by IP rights or not, can be protected by obligations of secrecy. This will be particularly important when exchanging sensitive business information or ideas.
Well drafted non-disclosure agreements will also ensure that both parties are fully aware of what can and cannot be done with the confidential information. Rarely will the recipient of such information have freedom to use the howsoever they please. When preparing an NDA, therefore, it is important to be as precise as possible so as to leave no ambiguity concerning the information which is to be disclosed and how the recipient may use it. Similarly close attention should also be given to who may use the information as the recipient will often be a business consisting of many employees. Restricting access to the information within the business will be important, as will imposing further obligations of secrecy upon those who will have access to the information.
The new Non-disclosure Agreement templates from Simply-docs take all such considerations in mind and allow considerable flexibility in defining the confidential information to be protected, and the uses to which the recipient may put that information. For situations where a receiving party needs to further disclose information to a third party, a Disclosure Agreement is now available: authorising the recipient to disclose certain information subject to continuing obligations of confidentiality which must be further imposed on the third party.
The contents of this Newsletter are for reference purposes only and do not constitute legal advice. Independent legal advice should be sought in relation to any specific legal matter.