10701 Corporate Dr. Ste 340-104, Stafford, TX 77477

logo
  • Home
  • Contact Us
  • About Us
  • Practice Area Overview
    • Asset Protection
    • Business Law Services
      • Business Formation
      • Business Contracts
      • Documents for Startup Businesses
    • Estate Planning
    • Wills and Trusts
  • Blog
  • Contact Us

The Purpose and Elements of a Non-disclosure Agreement

November 13, 2019 by Sandra Ighalo

Taking the Right Steps to Set Up a Nationwide Business Entity

The Purpose and Elements of a Non-disclosure AgreementWhen you want to create a business with a national market, there are a number of documents you need to put in place. See our page on the 8 documents you want to have in place when you start up nationwide business.

One of the most important of those documents is a non-disclosure (or confidentiality) agreement. Let’s take a look at what that is and how it can benefit you.

The Purpose of a Non-disclosure Agreement

A non-disclosure/confidentiality agreement typically involves a business and a third party with actual or potential access to key proprietary information. The third person may be an employee, a vendor, a customer, an investor or business partner. The key information also may take a variety of forms:

  • A specific way of doing business
  • A product formula (think Coca-Cola)
  • A unique process
  • A customer list
  • A unique combination of materials

In a non-disclosure agreement, the third party agrees (and becomes contractually bound) not to disclose information about your business to unauthorized individuals or entities. It is the most common way to protect a trade secret.

The Components of a Valid Non-disclosure Agreement

To be enforceable, a non-disclosure/confidentiality agreement generally must include:

  • A definition of what constitutes confidential information for purposes of the agreement
  • Any items that are not considered confidential information
  • The duties or obligations of the person receiving access to confidential information
  • The length of time the non-disclosure/confidentiality agreement will be in effect

Note that there’s no requirement that a non-disclosure agreement be in writing. An oral agreement is enforceable, but there can often be proof issues based on differences in the recollection of what was agreed.

Contact Us

At MCIS Law, PLLC, in Stafford, we aggressively advocate for businesses and individuals in southeast Texas. For a confidential consultation with an experienced and knowledgeable lawyer, email us or call our office at (346) 297-0121. We accept all major credit cards.

Filed Under: Business Documents Tagged With: Business Law

Request A Consultation

  • This field is for validation purposes and should be left unchanged.

Disclaimer

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • March 2019
  • February 2019
  • January 2019
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • June 2018

Contact us

MCIS Law,PLLC

Address:

10701 Corporate Dr. Ste 340-104,
Stafford, TX 77477

Phone:

(346) 297-0121

  • Facebook
  • Twitter
  • Linkedin

Request A Consultation

  • Home
  • About Us
  • Practice Area Overview
  • Blog
  • Contact Us
footer-logo

© 2021 MCIS Law, PLLC All Rights Reserved.
Sitemap | Disclaimer