A non-disclosure agreement is a good way for businesses to protect trade secrets that they don’t want their competitors to know about. A non-disclosure agreement is a contract between two or more parties that outlines information or materials that the company wishes to share with the recipient, and restricts access from other parties.
A number of elements make up a non-disclosure agreement (NDA). Some of these elements include:
- A definition of the confidential information.
- Exclusions from the confidential information.
- Obligation of the receiving party.
- Time periods and other miscellaneous provisions.
NDAs usually require the recipient to keep the information confidential for a certain amount of time, which is where the time period comes into effect. Putting together a non-disclosure agreement is best left up to an experienced Arizona small business attorney to ensure that it is created correctly. These agreements usually use state laws to establish guidelines, so it’s best to work with a well-versed attorney.
Call JacksonWhite’s Small Business Law Team at (480) 464-1111 to discuss your case today.