Non Disclosure Agreement

Overview

Non-disclosure agreements are typical when firms negotiate with other businesses. They let the parties to exchange critical information without risk of it falling into the hands of rivals. In this situation, it is referred to as a mutual non-disclosure agreement.

Types of Non-disclosure Agreements

Unilateral NDA: Two parties are involved in this type of NDA. Only one of the two parties reveals secret information and expects the other party to keep the information from being disclosed further.
Bilateral NDA: Two parties are involved in this type of NDA, and both parties give sensitive information to each other with the aim of protecting and securing the information from third parties.
Multilateral NDA: Three or more parties are involved in this type of NDA, in which one of the parties provides private information and the other parties pledge to keep the information confidential from subsequent disclosures.

Benefits
Checklist/Requirements

Benefits of Non Disclosure Agreement

Because the NDA is a binding agreement, it is essential in the event of a future conflict. Any party who violates the agreement is legally obligated to reimburse for damages.
It explicitly defines (in writing form) anything that falls under the category of ‘confidential,' therefore eliminating any ambiguity or loss of information in the long term.
It protects the confidentiality of information communicated between two or more parties and decreases the likelihood of critical information leaving the organization.
Overall, it safeguards intellectual property disclosures (including trade secrets, proprietary information, and other sensitive information), therefore protecting the organization as a whole.

Checklist/Requirements

Details of the Parties such as Name, address etc.
Scope of agreement
Duties and responsibilities of parties
Consequences of breach

Why Choose Us

Entrepreneur Friendly

We make the process so easy and fast that you will not even feel the headache of all the paperwork, and our professionals will provide you all the promised deliverable within a given span of time.

Experienced Professionals

All our professionals are qualified and specialized in that particular work. Making sure no mistakes are done at the time of filings with the authorities so that company won’t have to pay any penalties due to mistakes.

One Stop for All Your Requirements

We support you throughout the journey of your business, from the incorporation, Accounting and taxation support, Secretarial compliance support, and Legal support.

Cost-Effective

We believe that cost plays a vital role in any company’s growth stage, that’s why we do not surprise our clients with hidden charges, you pay what you see in the initial proposal.

Frequently Asked Questions

What are the precautions that needs to be taken care while signing a Non-disclosure Agreement?

o Make sure that all of the information provided is accurate, and that the language used is clear and unambiguous.
o You must require all parties involved to read and orally explain the full NDA. This will assist to avoid future misunderstandings.
o While drafting the paper, do not include non-required clauses or utilise contradictory sentences.
o Check if the document has an expiration date and, if necessary, renew it.

What happens if a Non-disclosure Agreement provision is broken?

If you learn that any sensitive material protected by an NDA provision is being released publicly, it is critical that you gather proof against the activity as soon as possible. Get answers to questions such as who leaked the information, how they released it, and what is being done with the information. The next step is to engage an attorney who is experienced with business matters and to continue with the process.

When do you need a Non-disclosure Agreement?

When engaging into a commercial transaction: Signing an NDA is the ideal solution if you are inviting a vendor or a consultant and want to ensure that the information you give does not leak.

When beginning a new project: if you intend to begin a new project. This will involve the participation of both internal and external parties. It is recommended that an NDA be signed in order to avoid any ambiguity or claims that may come from either end at any point in time.

When speaking with investors or negotiating mergers & acquisitions: When the need to examine into the documents and numbers emerges and the conversation progresses to the advanced level when speaking with an investor, a request to sign an NDA might be made. This should provide explicit reasons for why signing an NDA is required. The same is true for the mergers and acquisitions process.

What are the Key elements of Non-disclosure Agreement?

Identification of the parties who will be signing the contract.

A clear specification of what the agreement considers confidential Information.

The specific reason for which the information is being provided and for what purpose.

An in-depth description of how the shared data can and cannot be utilised.

Explicit details regarding the agreement's terms and duration.

Excise & Customs