Confidentiality Agreements & NDAs - key guidance

Businesses deal with people and other businesses on a daily basis. This means that your company will be regularly exchanging sensitive information. Clients, suppliers, employees, investors, landlords, tenants, consultants and partners – you had, have or will have may be exposed to your trade secrets. This is why having robust Confidentiality Agreements (or NDAs) is key to protecting your confidential information.

What is a Non-Disclosure Agreement (NDA)?

A Non-Disclosure Agreement (NDA) - also known as a Confidentiality Agreement - is an invaluable legal document that can help protect your organisation's sensitive information. It’s an enforceable contract between both parties, so they’re aware of what confidential information is being shared and what constitutes as protected information. 

If you’re unsure of the fairness of a draft or if the NDA template you're using doesn't include what you need, our experienced contract lawyers can review your agreements ensuring they’re fit for purpose and protecting your interests

When should a Non-Disclosure Agreement be used?

Non-Disclosure Agreements and Confidentiality Agreements are commonly used in a variety of business settings especially when one party doesn’t want the other party disclosing confidential information.

One such example is when an employee signs a Settlement Agreement. In these cases, the agreement is designed to protect the confidential details of the financial settlement and the reasons for entering the agreement.

Additionally, if you’re working with a new supplier or independent contractor and they’ll be exposed to confidential information, a Confidentiality Agreement is essential to protect your intellectual property or business interests, plus provides legal recourse if the terms of the agreement are breached.

What should be included in a Non-Disclosure Agreement?

A basic NDA should include the following:

• The names of the parties to the agreement
• A definition of the confidential information the agreement seeks to protect
• An obligation that the receiver keeps the information confidential and only use it for legitimate purposes specified in the agreement
• The legitimate purposes for which the receiver can divulge the confidential information and the people to whom they can make a disclosure
• How the information will be held whilst being used and disposed of once the term has finished
• How long the agreement will apply

NDA review

LawBite's contract review service is designed to be easy to understand and straightforward. Get the legal advice you need quickly and easily by booking a no-commitment 15-minute call with our experienced, insured, and regulated UK-qualified contract lawyers today. 

We can help you ensure your NDA is legally sound and fit for purpose. Our contract review service starts at just £180 (+VAT) for a small contract with a 3-day turnaround. Our commercial and NDA lawyers will take the necessary time to understand your requirements and provide you with the best advice possible. Take the first step in protecting yourself and your business today.

To get started with your NDA reveiw, book a free 15 minute consultation with one of expert commercial lawyers or call us on 020 3808 8314. Our lawyers are fast, professional and ready review or draft your contract.

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