Confidentiality Agreement Templates
We all share secrets with our friends. Secrets that we would not wish other people to know of and this is what can be termed as confidentiality. A Confidentiality Agreement is an agreement between two parties who share confidential information that they do not wish a third party to get involved in. The agreement should not be long but short and straight to the point. This article will discuss the key elements of Confidentiality Agreement.
Just like any other contracts, the first step to writing a Confidentiality Agreement is to identify parties involved. The parties are: the party that will be providing the confidential information, the disclosing party that is the person who will disclose the information, and then the recipient of the information that is the person receiving the (disclosed) information. The parties should be identified by their full names and their contact information. This is important so that the Confidentiality Agreement will have clear and accurate information about each party involved.
The confidentiality should also describe what the parties involved deem as confidential. This section of the Confidentiality Agreement will deal with defining confidentiality according to the parties involved. In most cases, it will involve sharing of confidential information between the parties. This information can be about national security, company secrets or any other information that is meant to be kept confidential and it can have a negative impact on the company if gets to the wrong party. That is why the contract should indicate clearly the meaning of the confidential information. The agreement should state what will happen if the disclosing party discloses the confidential information to another party that is not part of the Confidentiality Agreement.
The Confidentiality Agreement will also include the scope of the confidentiality obligation. This is to say that the recipient of the confidential information cannot and should not use the information for him and he should make sure that other people cannot gain access to the information under any circumstances. The recipient should make sure the information remains confidential and also the contract will allow the other parties involved to take legal measures against the recipient if he/she discloses the confidential information to other people that are not permitted by the contract to gain access to the information.
A Confidentiality Agreement should also indicate the contract term. For example, if the parties involved decide to enter into a one year Confidentiality Agreement then the contract should state that the term of the contract is for one year and also state if the contract can be renewed after its term is over. The contract should also have the signatures of all the parties involved to validate it and also the signatures will act as proof that the parties went into a Confidentiality Agreement and also it is important that the contract have the date, month and the year the parties went into an agreement. This is important to mark the start of the contract and also to be able to tell the end of the contract term.