Sign Indiana Banking Confidentiality Agreement Later

Industry sign banking connecticut confidentiality agreement easy

non-disclosure agreement confidentiality agreement or nda is one of the most commonly used agreements today by the businesses i'm bindu sharma from origin ip solutions a leading ip and legal services providing company based in bangalore india i will explain you why and how should nda be used and what are the main clauses of nda that you should be looking into before signing the nda before we start let's first understand what a non-disclosure agreement is well nda is a legally binding contract that establishes a legal relationship between two parties where one party discloses the confidential information and second party receives it however nda may also be two-sided where both the parties disclose and receive confidential information to each other the parties signing the nda agree that confidential information which they got access to will not be made available to others in any unauthorized manner because such unauthorized disclosure may put the disclosing party at a very big risk confidential information is the information which is not in public domain it has economic value and owner of such information has taken reasonable steps to safeguard it so confidential information does not include the information which is already known to the other party and if such information is there in public domain we cannot categorize such information as confidential information confidential information can be categorized into two parts one is technical information and second is business information technical information generally includes inventions ideas drawings designs software code etc whereas business information may be related to acquisition or merging employee salaries future plans of the company product launch details press release financial data of the company any information which is already in public domain cannot be termed as confidential information it is important to take precautions to protect confidential information of the company there are various ways to protect confidential information of the company so there may be physical measures there may be right policies and processes so other than physical measures companies shall also have right policies and processes to safeguard confidential information executing nda is one of the ways to safeguard such valuable information wherein the parties disclosing and receiving the confidential information agree on specific terms and conditions to avoid misappropriation or misuse of the information businesses need to disclose business or technical information to third parties very often and it is important to take precautions before such sensitive information is disclosed nda is an important agreement to be executed in the instance when such information is disclosed for example nda is required when business or product information is to be revealed to external vendors or consultants to seek advice or to get product manufactured nda is also needed when business financial product information is to be discussed with the investors or intellectual property especially invention details are required to be disclosed to the patent attorney nda is also needed when company information is to be shared with employees in addition to this there could be many circumstances where nda will be required now let's see what are the main clauses of nda that have to be there in the agreement like any other agreement nda is signed between at least two parties wherein one party discloses and other party receives the confidential information in some of the situations both parties may disclose or receive confidential information from each other and such nda is called as mutual nda the agreement starts with date of execution and full name and address of the parties all the important terms to be used in the agreement including the term confidential information shall be defined right in the beginning to avoid discrepancies at later point of time reason and purpose to execute the agreement shall be defined in the agreement along with obligations of both parties every agreement including nda that is executed shall have specific term date of execution term of agreement and way of termination form a very important part of the agreement depending upon need and life of confidential information term of nda may be fixed for example if the purpose of nda is to maintain confidentiality of the invention before filing for a patent then as soon as patent is filed for the confidentiality of the invention may not be strictly required to be maintained injunctive relief forms part of most ndas where disclosing party has the right to injunctive relief to stop the other party from breaching the agreement under this clause the disclosing party can also get a court's order to stop the other party from breaching the agreement apart from this governing law and jurisdiction shall be specified to ensure that if any dispute happens it is resolved with least difficulty so in this video we saw that nda is one of the most commonly executed agreements and it should be used for various purposes especially where some confidential information is exchanged and you want to maintain confidentiality of such information in order to be enforceable nda shall have all clauses of a valid agreement in case you require any support with respect to drafting or reviewing of nda you can reach out to us email id has been provided in the chat box thank you for watching this video i hope you found it useful if you have any queries related to our services you can contact us at the email id and phone number provided in this slide thank you have a good day take care bye