A Unilateral Confidentiality Agreement Template: What You Need to Know
A unilateral confidentiality agreement, also known as a one-way nondisclosure agreement, is a legal contract between two parties that outlines how confidential information is to be handled. In this case, only one party is sharing confidential information with the other, and the agreement helps ensure that this information is kept secret and protected.
If you`re in a situation where you need to share confidential information with a third party, such as a potential business partner or vendor, it`s important to have a unilateral confidentiality agreement in place. This document helps protect your company`s sensitive information and ensures that the other party understands their obligations to maintain confidentiality.
To help you get started, here`s a basic template for a unilateral confidentiality agreement:
Introduction
The introduction of the agreement should clearly state the purpose of the document and identify the parties involved.
Definition of Confidential Information
This section defines what constitutes “confidential information” and includes a list of examples. It`s important to be specific so that both parties understand what information is being protected.
Obligations of Receiving Party
This section outlines the obligations of the receiving party, including limitations on the use and disclosure of the confidential information. It`s important to include the consequences of a breach of the agreement.
Term of Agreement
The term of the agreement specifies how long the confidential information will be protected and when the agreement will terminate.
Exceptions
This section includes any exceptions to the confidentiality agreement, such as when the confidential information is already known to the public or when it`s required by law to disclose the information.
Return of Confidential Information
The returning party is obligated to return or destroy any confidential information once the agreement has terminated.
Governing Law and Jurisdiction
This section specifies which law will govern the agreement and the jurisdiction that will have the authority to handle any disputes that may arise.
Conclusion
The conclusion restates the purpose of the agreement and signifies both parties` agreement to the terms and conditions.
A unilateral confidentiality agreement is a straightforward and effective way to protect your company`s confidential information. By using the above template, you can ensure that you and the receiving party are on the same page and that you`re taking the necessary steps to safeguard your company`s sensitive information.