Simplify the NDA process for your business documents.
Template for Non-Disclosure Agreements (NDA)
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Create a free, one-way NDA template for Non-Disclosure Agreements.02
Make your Non-Disclosure Agreements easy and painless by using this lawyer-made one-way NDA template.03
More than 2,900 people use this NDA template.
Non-Disclosure Agreement Information
A Non-Disclosure Agreement also called an NDA, is a contract that protects sensitive and confidential information one party gives to another.
Whenever a party receives confidential information, it agrees to use it only for permitted purposes and to keep it private from third parties.
The disclosure of confidential information (e.g., the disclosure party) is protected from being competitively unfair or damaging their reputation. If one party breaches the contract, the other party may take legal action. You can customize Venture Suite’s non-disclosure agreement template to suit your preferences.
The disclosure of confidential information (e.g., the disclosure party) is protected from being competitively unfair or damaging their reputation. If one party breaches the contract, the other party may take legal action. You can customize Venture Suite’s non-disclosure agreement template to suit your preferences.
You will need the following information to sign a Non-Disclosure Agreement:
Depending on the situation, you may include clauses prohibiting someone from starting a competing company or hiring others (such as a non-compete clause or a clause about not having the employee). The provisions in these clauses protect your business interests. However, such clauses must first be limited in both their geographical or market reach, as well as the length of time they have to be enforceable.
- Contact details for the parties involved
- The confidential information that needs protection
- Users may use confidential information to their benefit.
- Keep confidential information under time restrictions.
Depending on the situation, you may include clauses prohibiting someone from starting a competing company or hiring others (such as a non-compete clause or a clause about not having the employee). The provisions in these clauses protect your business interests. However, such clauses must first be limited in both their geographical or market reach, as well as the length of time they have to be enforceable.
It involves two parties:
- Confidential information is provided by an individual or organization.
- A recipient is an individual or organization that receives or has access to the information and agrees to keep it private.
Non-Disclosure Agreements are often used in situations such as:
Venture Suite's non-disclosure agreement template is designed for unilateral relations in which one party discloses information to another party. In unilateral NDAs, only one party is required to keep information private.
A mutually beneficial NDA (where both parties agree to share, and keep confidential information), can be created using Venture Suite's NDA template.
- The candidates are interviewed for jobs, where they learn trade secrets.
- Employees or contractors engage in employment or services where the employer discloses information.
- Job openings in computer services, such as software outsourcing, app development, website design, or other information technology (IT) positions.
- If an employee resigns after their employment ends,
- Transactions where a product owner shares confidential information about a potential sale
- An investment plan requiring due diligence
- An inventor presents information to a potential investor in an invention pitch.
Venture Suite's non-disclosure agreement template is designed for unilateral relations in which one party discloses information to another party. In unilateral NDAs, only one party is required to keep information private.
A mutually beneficial NDA (where both parties agree to share, and keep confidential information), can be created using Venture Suite's NDA template.
Information that is not common knowledge or shared with the public is confidential. The disclosure party defines what confidential information is ultimate. Many types of data can be protected under an NDA, such as:
When you establish the subject matter of confidential information, the disclosing party must describe how it is used. For example, the disclosing party might state that the receiving party must keep the information confidential but could use it for business decisions or operations.
- Data such as name and contact information, purchasing and internet browsing history, GPS tracking information, and more may be collected from customers.
- Whether they are intellectual property, such as copyrights, patents, or trade secrets, these properties can be intangible assets with trade value.
- This might include other strategic functions such as marketing planning, production processes, prices, and more.
- Accounting and operating information - these may include intangible business assets, such as vendor statistics, staff statistics, fixed costs, and other internal financial reports.
- Typical computer technology includes data collection systems, internal applications, or software programs.
When you establish the subject matter of confidential information, the disclosing party must describe how it is used. For example, the disclosing party might state that the receiving party must keep the information confidential but could use it for business decisions or operations.
Non-disclosure agreements can continue permanently or stop on a predetermined date.
An end date can be specified for the duty of non-disclosure (the duty to keep the information confidential). Depending on the date, the relationship between the two parties ends, or it can be when the information no longer needs to be confidential.
Furthermore, the obligations created by an NDA may end if the confidential information becomes public (through no fault of the provider).
Consider an NDA between two inventors with a potential investor. It has been agreed to keep details of the invention confidential until they can begin manufacturing and selling the new product. A journalist would consider the secrets of the invention publicly if one of the inventors gave them away during an interview. Such a case would leave only the receiving party (the investor) to blame, and thus the NDA would not have been valid.
Furthermore, the obligations created by an NDA may end if the confidential information becomes public (through no fault of the provider).
Consider an NDA between two inventors with a potential investor. It has been agreed to keep details of the invention confidential until they can begin manufacturing and selling the new product. A journalist would consider the secrets of the invention publicly if one of the inventors gave them away during an interview. Such a case would leave only the receiving party (the investor) to blame, and thus the NDA would not have been valid.
NDAs often contain remedies for breaches of contract, so if the receiving party is not happy with the terms, there are options available. If one party breaks the agreement, then the contract serves as a strong deterrent since it can lead to legal action.
As an example, if the receiving party breaks the NDA, the terms may require them to pay liquidated damages (a predetermined sum). Dissolving parties may seek injunctions in court if damages are not an appropriate remedy. Under certain circumstances, the disclosing party might file suit with
Depending on the situation, the disclosing party may
As an example, if the receiving party breaks the NDA, the terms may require them to pay liquidated damages (a predetermined sum). Dissolving parties may seek injunctions in court if damages are not an appropriate remedy. Under certain circumstances, the disclosing party might file suit with
Depending on the situation, the disclosing party may
- Contract break-up: breaking the contract's terms and conditions
- Infringement of copyright: using the property without permission
- Trade secrets that were wrongfully used or disclosed
- Conversion: intentionally interfering with someone’s personal property
The agreement should be signed by both parties.
It is not necessary to have witnesses for an NDA to be valid, but having a neutral third party sign your signatures strengthens the validity of the contract. Additionally, avoiding court review and enforcement is important when using non-judicial stamp paper.
