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Mutual Confidentiality Agreement: What Is It And When Is It Used... Form

in the technology world a common form of legal control is a nondisclosure agreement it's very common that organizations will exchange non-disclosure agreements among themselves it's common for example that a vendor if I come to a corporate customer and say I want you to take a look at my technology because you might want to license my technology but first here I want you to sign a nondisclosure agreement from the point of view of an enterprise that is asked to sign a nondisclosure agreement that favors another party the enterprise is wise to stop and think about this carefully a non-disclosure agreement does not come along risk-free when you any kind of organization signs a nondisclosure agreement you're typically saying I agree that you're gonna give me some sensitive information and I'm gonna make sure that it's not disclosed to unauthorized people and I'm not gonna use it in my organization without Authority and maybe that non-disclosure agreement goes on to say and I will secure the information all of those obligations can be actually very hard for any kind of organization large or small to fully comply with and therefore I commonly recommend to enterprises that when somebody else comes to you and they ask you to sign a nondisclosure agreement read that agreement carefully very possibly you're wise to get counsel to evaluate that agreement and recognize that there can be significant risks associated with signing that non-disclosure agreement if you are the party who's going to be receiving sensitive or confidential information very commonly if you'll read the agreement carefully and maybe work with counsel you can tailor the agreement to scale back the the wrists and so for example you might say oh well they're asking me to sign a nondisclosure agreement that I won't disclose their information forever will forever is a very long time and you as an organization may say I'm okay with signing a non-disclosure agreement but we're gonna cut down the obligation just six months and we'll put a limitation of overall liability so that I'm not exposed to unlimited liability if I make a mistake whom I might say my maximum liability is five thousand dollars or something like that so the bottom line is that when someone asks your organization to sign some kind of a confidentiality agreement or clause you're wise to pause think carefully about it and think about how you can negotiate a narrower scope for that obligation in order to learn more about the course that I teach at the SANS Institute you can click the link below also another link below provides more information about me and my work in private practice