Non Disclosure Agreement India
Non disclosure Agreement India is a legal contract stating that certain information is confidential, and the extent to which its disclosure is restricted to third parties.
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It can be entered into with a person or an organization. Confidential information includes trade secrets, business plans, business methods and strategies, drawings, charts, and so on. Software programs and code are also included in the category of confidential information. Consultants and agencies are usually asked to sign one to protect trade secrets as they mostly work with multiple organizations within the same industry. In general, there are 3 types of nondisclosure agreements-
One-way or unilateral agreement-
Here, only one party has the confidential information to be shared with another party. The party in possession is called the ‘disclosing party’ and the other one is named the ‘receiving party’.
Two-way or bilateral agreement-Â
Here, two parties are involved and both have the confidential information to be shared.
Multilateral agreement-Â
Here, 3 or more parties are involved. One of them discloses sensitive or confidential information and the others promise to protect such information from further disclosures.
Protection of sensitive information
Secures patent rights for new inventions
Defines Confidential information
Dispute resolution
A valid non-disclosure agreement clause should include the following key provisions-
This section will mention if the non disclosure agreement is a unilateral, bilateral, or multilateral one. The details of the party/parties (names, addresses, etc) involved should be mentioned in this part.
The non disclosure agreement Clause must mention the date of execution of the agreement and the duration of the existence of the same. It should also mention if the rules and obligations related to disclosure of information will be applicable after the expiry of the non disclosure agreement or not.
The non-disclosure agreement form must specify what information is to be kept in the ‘confidential’ category or to be protected.
This section of the non-disclosure agreement employee specifies the intentions for which the confidential data/information will be used. It will also specify with whom such information can be shared.
The non-disclosure agreement clause must mention the remedial measures the parties will resort to, to resolve disputes, if any. It will include alternative forms of dispute resolution they may choose to employ, such as arbitration.
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- Nearly 10 minutes to fill in our Questionnaire
- Provide basic details & documents required for registration
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- Assigned Relationship Manager
- Consultation for apt clauses to safeguard sensitive information related to your business.
- All it takes is 3 working days.
A non disclosure agreement may include but is not limited to any information stored in the form of documents or mails or in any other way related to the business’s structure, operating procedures, intellectual property, trade secrets, client lists, products and services and any other important information.
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