Divorce & Family
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Confidentiality is key when it comes to protecting sensitive information, particularly in the business world. This is where a confidentiality agreement, or NDA, comes in. By laying out the terms surrounding the use and disclosure of confidential information, parties can feel secure in knowing that their secrets will remain safe. As solicitors, we understand the importance of such agreements, and can help ensure that your NDA is legally binding and comprehensive. Trust us to provide the support you need to protect your valuable confidential information.
A confidentiality agreement, or an NDA (non-disclosure agreement), is a legally binding contract where one or more parties agree terms regarding the use and disclosure of confidential information. Typically, it will be agreed that the parties will only share confidential information for a specific agreed purpose and will refrain from sharing the information with any third parties.
Why is it important?
Disclosing confidential business information to others may be unavoidable in order to achieve your commercial aims. However, unauthorised disclosure can have disastrous consequences on the value of your business or invention as the case may be. It is therefore important to have a confidentiality agreement in place to protect your businesses interests, avoid the risk of unauthorised disclosure and set out the process to be taken if such disclosure does occur.
We can assist by drafting a confidentiality agreement, whether that be in basic form or bespoke to your business needs, and advising you on the terms of such agreement.
We can also review and advise you on any confidentiality agreements presented to you by third parties.
Deputy Managing Partner
Please find below some FAQs regarding Confidentiality Agreements.
The agreement will typically detail the action to be taken upon a breach. However, there are a number of remedies that may be available including an injunction to prevent further unauthorised disclosures, compensatory damages, a fee equal to the amount due for a license for the use of such information and an account for any profits made from making the unauthorised disclosure.
Confidential information is any information that is confidential in nature and shared in situations importing an obligation of confidence. In order for information to be confidential in nature, it must have the ‘necessary quality of confidence’ which means that it cannot be something which is public knowledge.
Please submit your information and a member of the Poole Alcock team will respond to you as soon as possible. If you have a quick question, please feel free to call 0800 470 0334.
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