When it comes to business transactions, it`s important to protect sensitive information from being shared with a third party without permission. This is where a non-disclosure agreement (NDA) comes in handy. An NDA is a legal agreement between two or more parties, which outlines confidential information that must not be shared with outsiders.
However, not all NDAs are created equal. Some can be lengthy and complicated, which can make it difficult to understand and comply with the terms. In some cases, a shorter NDA can be just as effective in protecting sensitive information while being easier to understand and implement.
Here is a short non-disclosure agreement sample that can be used as a starting point:
NON-DISCLOSURE AGREEMENT
This agreement is made between [Company Name], hereinafter referred to as the “Disclosing Party,” and [Recipient Name], hereinafter referred to as the “Receiving Party.”
1. Purpose of Agreement. The Disclosing Party is willing to disclose certain confidential information to the Receiving Party for the purpose of [insert purpose]. The Receiving Party agrees to maintain the confidentiality of the confidential information and to not disclose it to any third party without the prior written consent of the Disclosing Party.
2. Confidential Information. For the purpose of this agreement, “Confidential Information” shall mean any and all information provided by the Disclosing Party to the Receiving Party, whether in writing, orally, or in any other form, that is not generally known to the public.
3. Use of Confidential Information. The Receiving Party agrees to use the Confidential Information solely for the purpose of [insert purpose] and not for any other purpose. The Receiving Party agrees to take all reasonable measures to protect the confidentiality of the Confidential Information.
4. Term. This agreement shall remain in effect for a period of [insert number] years from the date of this agreement.
5. Remedies. In the event of a breach of this agreement, the Disclosing Party shall be entitled to seek injunctive relief, as well as any other legal remedies that may be available.
6. Governing Law. This agreement shall be governed by and construed in accordance with the laws of [insert state or country].
7. Entire Agreement. This agreement constitutes the entire agreement between the parties, and supersedes all prior understandings or agreements, whether oral or written, between the parties with respect to the subject matter of this agreement.
In summary, a short non-disclosure agreement can be just as effective in protecting confidential information while being more user-friendly. However, it`s important to note that a shorter NDA may not cover all possible scenarios and situations, so it`s always best to consult with legal experts to ensure full protection of sensitive information.