Mutual Confidentiality Agreement – 5+ Free Word, PDF Documents Download

It is important to protect confidential information to protect businesses. Be it intellectual property or financial information or any other technical information, it is inevitable to keep them safe and secure. Protection of such information becomes even more critical when you have to enter into transactions with a second party like customers, suppliers, partners and staff members. You can also see Rental Agreement Templates.

At times, you need to share the information with people or companies who can generate more profit for you and drive your business forward. More often than not, people do not have sufficient protection for their critical information during such a transaction. Confidentiality agreement or Nondisclosure agreement makes such a sharing of information safe by some legal clauses so that the information does not get leaked to unauthorized sources. You can also see Agreement Templates.

Unilateral Confidentiality Agreement or One Way Agreement

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Unilateral or one way agreement is the one wherein one of the involved parties has to disclose information but wants it to remain a secret.

Sample Mutual Confidentiality Agreement

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Mutual Confidentiality Agreement Template

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 Mutual Confidentiality Agreement

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Mutual Confidentiality Agreement

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Need of Mutual Confidentiality Agreement

Whenever there is a joint venture or businesses want to get merged, a mutual confidentiality agreement has to be signed. Moreover, mutual confidentiality agreements are also signed to keep the contract balanced and fair.

Advantages of signing mutual NDA

  • Both the parties involved in the deal can be assured of the information they are disclosing as they would be aware that they have to abide by the contract they have signed.
  • In case of breach, they can take legal action against the concerned party and get suitable compensation for the same.

How to draft a Mutual Confidentiality Agreement?

A typical mutual confidentiality agreement should suitably specify the information and the nature of the information that has to be protected. The kind of information covered in such agreements include trade secrets, business plans, financial information, technical data and patent applications that are yet to get published.

Clearly define your confidential information so that there are no complications later during the contract period.

It should be kept in mind that purposeful disclosure is just one way in which valuable information gets transmitted to the rivals or people of third party. Such violations also happen when computers get hacked or stolen, when hackers intrude in the websites and obtain the necessary information or a malware transmits the information to unauthorized people. Your contract should clearly specify how the concerned party should protect your information in similar situations. You can also see Basic Confidentiality Agreement.

Besides, include a clause that states how the party can disclose your private information and how you wish to transmit the information in case they have to share it with additional people.

What if the contract is breached?

You have to keep in mind that the document is a contract and it is subject to contract law. If the terms and conditions are violated, there is the provision of legal recourse. The only important fact here is that you should have an effective argument to prove yourself.

Whenever two parties have to protect their information for business purposes, we offer mutual confidential agreement according to their requirements. Whether they want it in word or PDF format, we provide it all. Every document that we provide is compatible to different software versions. We also take the suggestions from our customers and modify the templates accordingly. You can choose from the wide range of available agreement forms and go for the most appropriate one for you.

by Abigail Breslin

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