A non disclosure agreement can protect your business. How so? It is a legal contract between you and someone who has access to sensitive information about your company. This could be your intellectual property, data such as contact details or any sensitive information. This is a contract that protects any information or trade secrets accessible by a third party.
A non disclosure agreement is also referred to as an NDA. This is a contract between two parties: a company and a third party. Your company’s NDA is for the protection of your company, which includes your clients. For instance, a law firm will have NDAs in place to be agreed to and signed by suppliers and employees. So for instance, if you are a client, your bank details will remain confidential and protected.
An NDA is also for the protection of anyone who uses your services. Service users often supply businesses with sensitive data or contact details which need to be protected. So non disclosure agreements are for you as much as they are for your clients or service users. But they are also for employees to better understand the importance of confidentiality.
When should you have a non disclosure agreement signed by a third party? You should have an NDA signed when you begin a relationship with a third party, before they gain access to sensitive information. This could be when you employ someone, when you engage the services of a sole trader or company, and even when you enter into a partnership.
Please contact us for a complimentary consultation. We’ll help you to understand the importance of having a non disclosure agreement in place, in order to protect your company. SG
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