There are many online activities where it is a good idea to get a signed confidentiality agreement in place. These include:
- outsourcing work to a bookkeeper
- software development
- ghost writing
- negotiating the purchase or sale of an Internet business
You will want to protect your trade secrets and other intellectual property at a minimum.
One of the important things to remember about confidentiality agreements is that they are designed to be a reminder to the parties who sign it. Equally important is to recognize that a dishonest person will sign a confidentiality agreement in a heartbeat without thinking twice about violating it.
In other words, choose who you do business with wisely.
“Three can keep a secret, if two of them are dead.” – Benjamin Franklin
Important Confidentiality Agreement Provisions
The scope of your confidentiality agreement can be custom-tailored by your Internet lawyer to meet your business needs.
Key issues to include in your agreement are…
1. What information must be kept confidential?
2. What information should not be treated as confidential?
3. Should the relationship between the parties be kept confidential?
4. Who must sign the confidentiality agreement?
5. Should copies of the confidentiality agreement be signed by employees and others who have access to the information?
6. What types of legal and equitable remedies do you want available if the confidentiality agreement is breached?
7. How will your confidential information be handled once your relationship with the other party terminates?
Is there a difference between a confidentiality agreement and a nondisclosure agreement (NDA)?
As a practical matter these days, both confidentiality agreement and non-disclosure agreement are used interchangeably to describe the same type of legal document. No matter which way the contract is titled, the purpose remains the same.
If you have business information you need to protect, set up a telephone consultation with Internet Lawyer Mike Young to discuss the creation of a confidentiality agreement that’s right for you.