Example of a Confidentiality Agreement

A confidentiality agreement represents a legal document explaining that a trade secret or some proprietary information will be shared and stipulating by whom and to whom it will be disclosed and for what purpose, according to David V. Radack, who is a partner with Eckert Seamans Cherin & Mellott in Pittsburgh.

Introduction

When you draft your document, start by stating that the confidentiality agreement is made between several parties and specifically points to the person planning to disclose information and the individuals who are the recipients of the private data.

Scope

Follow with the scope of the disclosure that stages the boundaries of what will be shared. This important section needs to describe the topic of discussion as specifically as possible to carve the space considered private, writes Radack. For instance, include exceptions for what the recipient already knows prior to the meeting from his or her own observations or from what is in the public domain.

Legal Obligations

State the expectations. They must include that the person holding the private information will disclose its content and that the recipient agrees to not use it for his own benefit and will keep it private unless required by the law, reports bitlaw.com. The document needs to state that the signatures on tit bound the participants to the terms of the agreement. Specify the duration of the agreement and add space for signatures.

References

• JOM; "Understanding Confidentiality Agreements"; David V. Radack; 1994
• Bitlaw.com: Confidentiality Agreement

Resources

• "The Managers Guide to Understanding Confidentiality Agreements"; Frank Adoranti; 2006