Confidentiality Agreements Solicitors
A confidentiality agreement – also known as an NDA (non-disclosure agreement) – can help protect commercially-sensitive information that you share with your suppliers or professional advisers. We strongly recommend that you take professional legal advice for such agreements to ensure that your information is adequately protected.
Our specialist team provides expert legal advice in different languages to clients on a wide range of different commercial legal matters.
When might I need to use a confidentiality agreement?
Many businesses share commercially-sensitive information with staff. Where they do this, they have the option of issuing confidentiality agreements to staff, or it can be incorporated into the employment contracts of staff.
Examples of what an agreement might be beneficial include:
- When working with professional advisers such as accountants and consultants
- When speaking to potential agents or distributors
- When carrying out due diligence for the purchase or sale of a business
- When negotiating with potential joint venture partners
- When your product or service includes proprietary code for software or apps
These are just a few examples and there could be many more instances where such an agreement would be beneficial. The right advice can help you ensure that you get the right agreement to protect your business.
What else do I need to consider for a confidentiality agreement?
Depending on the parties involved in the agreement, you may also need to consider:
- What is a reasonable duration of the agreement?
- What are the penalties for disclosure?
- Does it apply to one party or both, if both sides are sharing sensitive information?
Penalties are one area where you could really benefit from some professional advice. Large financial penalties might seem like an effective deterrent. However, these can prove to be unenforceable if they have not been calculated to ensure they are proportionate to the actual loss suffered.
How do I get a confidentiality agreement drafted for my business?
Call us on 0208 1111 911 or contact us through the website and we’ll discuss your circumstances with you. Then we’ll recommend the best course of action to create an agreement that will be effective for your business. The initial call is free and we’ll advise you of our fees before you decide to instruct us.