A non-disclosure agreement template is a legal document in which two parties mutually agree to certain terms and conditions and the aspects of these terms and conditions cannot be disclosed to a third party. These agreements are usually used between business persons while conducting business, a seller and his/her customers, and a manager and his/her employees. Any person that discloses important information to another party can use this agreement to ensure the safety of his/her classified information. Making someone sign a non-disclosure agreement is basically just like making someone take an oath in a written manner to never disclose the information provided to them to anyone else. It also disables the second party to rephrase or reword the information and use it somewhere else. Once the agreement has been signed, trespassing on any of the mentioned rules of the agreement or the above-mentioned acts can easily be considered a felony. The owner of the information is legally allowed to file a case against the second party and make them face the consequences of the crime.
A non-disclosure agreement is composed of all the terms and conditions from the first party’s side that the second party has to agree to in order to continue the deal or contract with them. This agreement comes with a governing law which basically states that the owner of the agreement is legally allowed to hold the second party accountable for their actions in case of a felony. A non-disclosure agreement comes in a proper format, which is not hard to acquire. An agreement can easily be formulated on Microsoft Word. The format of a general non-disclosure agreement is mentioned below:
1. Firstly, the date on which the agreement is being signed.
2. The name of the dominant party.
3. The name and contact information of the receiving party.
4. The statement that the receiving party agrees not to share or disclose the confidential information that is provided to them or will be provided to them soon by any 3rd party in any form without the consent of the owner of the information.
5. The time period till which this agreement is valid between both parties should be mentioned. This means that after that certain time period, the receiver party is free to speak about the topic with anyone.
6. The consequences of deceiving the contents of the agreement should be mentioned.
7. The receiving party has to agree to all the conditions verbally and by signing the document.
8. The space for the signature of both parties should be given at the end of the document.
Addition and subtraction of certain factors in a non-disclosure agreement can be made if it is required by any party. There should be two copies of the agreement, one for each party. It must be remembered to state all the terms and conditions in the agreement clearly to avoid any misunderstanding. Any sentence that could have two possible meanings should be avoided to make sure there is no violation of the terms and conditions on the basis of that misunderstanding.
Templates for Non-Disclosure Agreement
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