Checklist for Confidentiality Agreements ( NDA )
Consider the following important subjects to be addressed in Confidentiality Agreements. To learn about When Do I need a Confidentiality Agreement?, click here.
1. Full names and physical address of each party (P.O. box not sufficient). The individual as well as the company.
2. Statement regarding whether this involves a contemplated business arrangement, business discussions or existing business relationship.
3. Describe the consideration offered to create an enforceable Confidentiality Agreement (contracts must have consideration to be binding and enforceable, with limited exceptions).
4. Clarify tangible and intangible format for information.
5. Clarify the required marking on the material, e.g. marked "Confidential" or "Proprietary" or lack of such requirement.
6. Intended recipient must agree to the following regarding the information:
a. maintain the secrecy;
b. shall not disclose;
c. take all reasonable steps and precautions to preserve;
d. notify discloser of unauthorized release of Confidential Information;
e. use the Confidential Information solely [ complete ];
f. not use any of the Confidential Information for its/her/his own benefit, except as expressly authorized;
g. not use any of the Confidential Information for the benefit of any third party;
h. deliver to the Discloser Confidential Information;
i. acknowledge that all Confidential Information is and will be the sole and exclusive property of the Discloser;
j. direct Recipient's representatives, agents and employees (Recipient's Representatives), not to, disclose to any person the Confidential Information or any part thereof;
k. accept full responsibility for any violation of any term of this Agreement made by one or more of the Recipient's Representatives.
7. Describe exceptions to the Confidentiality Agreement, as required by law.
8. Provide for Recipient's payment of attorneys fees and costs in event of breach of Confidentiality Agreement.
9. Provide for period of enforceability of the Confidentiality Agreement.
10. Provide for intended third party beneficiaries of the Confidentiality Agreement, if applicable.
AND DON'T FORGET THE SIGNATURE OF THE PARTY BOUND NOT TO DISCLOSE!
Related Information and Checklists:
When Do I need a Confidentiality Agreement?
Non-Compete Agreement Checklist
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