The components of a standard confidentiality statement include the identification of the parties involved, a description of what is confidential, and the obligation of the receiving party, All Business says. The terms of the agreement are also laid out in a confidentiality statement.Continue Reading
A confidentiality statement is a bonding contract between a person and a business, when that person has access to specific trade secrets and promises to not disclose that information to others, Nolo explains.
A confidentiality statement should clearly define exactly what is confidential. It may include any information regarding the subject at hand, or it could be just information that the receiving party can't obtain from other sources, All Business says.
The statement should also outline any information that is excluded from the confidentiality statement, such as information already known by the public or information discovered or known by the receiving party that becomes public knowledge that is not the fault of the receiving party, Nolo says. The statement should also outline the obligations of the receiving party, which generally includes advising the receiving party he should hold the information in the strictest confidence, and he shall not disclose the information, use the information for his own benefit, or publish or copy the information without the disclosing party's prior approval.Learn more about Law