A signed NDA form can help you avoid a lot of problems as a business owner. Without a Non-Disclosure Agreement in place, your confidential information can be disclosed publicly or otherwise used by employees, vendors, clients, or anyone else that you share them with. A Non-Disclosure Agreement lets the recipients of your proprietary information know that you expect confidentiality and it authorizes you to take legal action if the contract is violated.
Confidential information typically can include items such as:
- Business records and plans
- Financial information
- Trade secrets and original research
- Inventions and product ideas
- Technical data or designs
- Contract details or partner lists
- Sales leads and customer or client details
- Pricing or discount structure
Confidential information generally does not include:
- Information that is already public knowledge
- Information lawfully received from a third-party
- Information that is independently developed or discovered by the recipient
- Information that the owner has already given the recipient consent to disclose
- Any other information that both parties agree in writing is not confidential