Get Your Non-Disclosure Agreement (NDA) Drafted
While we call you, get some insights into what you are getting into.
At BizSetupGlobal, we provide comprehensive accounting and compliance services designed to empower firms like yours to thrive and succeed.
What is a Non-Disclosure Agreement (NDA) or Confidentiality Agreement?
Types of Non-Disclosure Agreements
One-Way Or Unilateral Agreement
In this case, only one party has sensitive information that must be shared with another. The party in possession is known as the “disclosing party,” while the other is known as the “receiving party.”
Two-Way Or Bilateral Agreement
This type of agreement involves two parties with sensitive information to communicate.
A Multilateral Agreement
It involves three or more participants. One of them provides sensitive or confidential information, while the others swear to keep such information private.
Benefits of a Non-Disclosure Agreement
Key Elements of Non-Disclosure Agreement
A legal non-disclosure agreement should include the following essential clauses:
This section will state whether the non-disclosure agreement is unilateral, bilateral, or multilateral. This section should provide information about the party(ies) involved (names, addresses, etc.).
Term of the Agreement
The non-disclosure agreement template must include the date of the agreement’s execution and the term of its existence. It should also state whether or not the regulations and requirements for information disclosure will continue to apply after the non-disclosure agreement expires.
The vesting timeline for each co-founder’s equity ownership in the company is outlined in this section. Vesting is a strategy that assures co-founders receive their shares over time, often over four years, with a one-year cliff.
This portion of the non-disclosure agreement states the purposes for which the confidential data/information will be utilised. It will also clarify who such information may be shared with.
The non-disclosure agreement shall specify the corrective steps the parties will take to settle disagreements. It will feature alternative conflict resolution methods, such as arbitration, that they may use.
Requirements for a Non-Disclosure Agreement
Information Protected With Non-Disclosure Agreement
The information covered by an NDA varies based on the circumstances of the agreement, but often includes:
Manufacturing methods, formulas, or customer lists are examples of information useful to a business or organisation and kept confidential to preserve a competitive advantage.
Business and Financial Information
Financial information, sales numbers, marketing plans, and other business-related information that is not publicly available.
Knowledge concerning patents, trademarks, copyrights, or other sorts of intellectual property should be kept private.
Individuals’ confidential information, such as personal identity information, health information, or other sensitive personal data.
Proprietary Software or Technology
Source code, algorithms, and designs connected to proprietary software, technology, or innovations.
Customer or Supplier Information
Customer or supplier information, such as contact information, pricing information, or sales.
Here's What You Need To Do
Fill the Form
Fill out the above form to get started.
No additional compliance in most cases
Our Expert Will Start Process
Our expert will connect with you & advise on documents.
Frequently Asked Questions