A nondisclosure agreement form contains a provision regarding information prevented from disclosure without the proper authorization, says Rocket Lawyer. Information regarding the parties entering into the agreement is outlined on the form. A nondisclosure agreement protects certain business information and ideas and trade secrets where some exchange is made in order to obtain other information or to explore further development of a business.Continue Reading
A nondisclosure agreement should be in writing and clearly indicate the information that is confidential and for how long the information remains confidential, notes FindLaw. A nondisclosure agreement can put a restriction on what the receiver of the information can do with it. An agreement may also outline a forum for resolution should a dispute occur.
The language of the agreement should be reviewed by all parties to ensure it does not create unintended exceptions, notes FindLaw. The owner of the information takes all steps necessary to protect the secret information because once it's made public, that information is no longer considered proprietary.
Nondisclosure agreements can be unilateral or mutual, and are frequently used in employee agreements for those that work for a high-tech company, explains FindLaw. If the agreement is breached, a person can seek a court order to prevent further disclosure.Learn more about Law