A typical standard confidentiality agreement is aimed at outlining any terms and conditions under which confidential information among the two parties remain private and privileged. The parties signing a standard confidentiality agreement may be businesses, individuals or a combination of both. When one party discloses sensitive information to another party or they both disclose any such information, they sign this agreement to ensure that the information does not leak to any third party. In other words, it is a bond of trust that two parties agree to with mutual understanding. You can also see Rental Agreement Templates.
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When two parties get involved in some commerce or trading, they don’t want any third party to know about the terms and conditions of their deal, its financial aspects and ownership information. Then they mutually sign this agreement to safeguard the privacy of their commercial or trading information.
Standard Confidentiality Agreement for Employee
When an employee joins your business, he gains access to a lot of your confidential business information, by authorized or unauthorized means. A standard confidentiality agreement for employees will bound the employee to keep such information confidential, and not expose it to any third party.
Standard Confidentiality Agreement for Employer
As the employees are responsible for safeguarding your company’s private information, you as an employer are also responsible for keeping the secrets of your employees. You are liable to not disclose their information even when they leave your job and join somewhere else. This is where a standard confidentiality agreement for employers comes into the scene.
Precedent Standard Confidentiality Agreement
This kind of agreement is signed during acquisitions and mergers of companies. When a company buys a business, it looks at its assets and books. But sometimes, the buyer may pull out the deal without finalizing it. Now, the party has known your company secrets, and still has not bought it. A precedent confidentiality agreement will bound the party to not disclose the information to any third party.
Standard Form Confidentiality Agreement
> How to Create a Standard Confidentiality Agreement
Different types of standard confidentiality agreements can be tailor made as per your requirements. Although there are many templates of such agreements available over the Internet, it is always better to seek advice from a legal expert. He would know all the terms and conditions to be involved in the agreement, and the loopholes that may trap you unexpectedly. The information included in the agreement should be clear and understandable even by a layman. It should be divided into small paragraphs with proper sub-heads, so that anyone can quickly go through it and sign it without doubt. You can also see Agreement Templates.
> When a Standard Confidentiality Agreement is Used
- During negotiations of a business merger or acquisition
- While going through a joint venture or partnership
- While sharing an idea or concept
- When an employee joins your business
- When you leave an employer
> Benefits of a Standard Confidentiality Agreement
- It helps in keeping your private information protected against exposure to the public or to a third party
- You can get it tailor made as per your individual requirements and expectations
- It helps in differentiating between confidential and general information
- It outlines the consequences if any of the parties does not abide by its terms
Here, we have included varied types of standard confidentiality agreements which you can download, print and use to keep your confidential information private. The best thing is that you can customize these agreements as per your own individual requirements, preferences and expectations. You can also see Basic Confidentiality Agreement.