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Confidentiality Agreements

Confidentiality agreements, sometimes called “non-disclosure agreements” or “NDAs,” are used in a variety of situations. For example, before a joint venture is formed, the parties may need to exchange confidential information; an NDA allows them to agree on what limits there are regarding the use and disclosure of the information that is exchanged. Investors in the due diligence process are required to execute non-disclosure agreements, too. Even if a patent application is on file, it may still make sense to have a confidentiality agreement in place to protect trade secrets.

Non-disclosure obligations may be a part of other agreements, also. They are typically seen in employment agreements, non-compete agreements, agreements with independent contractors, and in other documents. They may also include invention assignment provisions or other intellectual property terms.

The specific terms of any agreement may vary from one situation to another. Too much restriction can become a drag on getting business done; too little and the confidential information leaks out. Crafting the obligations of confidentiality, defining what information will be kept secret, how long it will be maintained in confidence, etc., depends on the relationship the parties want to have.

Experienced intellectual property lawyers understand these issues and how to efficiently “get the deal done.” Contact Arnold & Saunders to see what we can do for your organization.

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