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Starting at $1,500.00 for basic Non Disclosure Agreement. More complex matters may range from $5,000.00-$10,000.00. An NDA is a contract by which one or more parties agree not to disclose confidential information that they have shared with each other as a necessary part of doing business together.
To be valid, a Non-Disclosure Agreement only needs two signatures ? the disclosing party and the receiving party. It doesn't need to be notarized or filed with any state or local administrative office.
In Illinois, the confidentiality obligations are finite. Your NDA may not continue indefinitely. To ensure your agreement is enforceable, add a reasonable time limit to the confidentiality obligation. This is typically ?during the course of employment? or for a short time period thereafter.
You do not need a lawyer to create and sign a non-disclosure agreement. However, if the information you are trying to protect is important enough to warrant an NDA, you may want to have the document reviewed by someone with legal expertise.
Consult With a Lawyer A confidentiality agreement must comply with specific legal requirements, such as state and federal laws, to be valid and enforceable. A lawyer can ensure the contract meets all necessary legal requirements and is compliant with the applicable laws.
In general, NDAs are used when there is a unilateral flow of classified data, while confidentiality agreements are designed to be used when two or more parties share proprietary information.
Main Elements of a Confidentiality Agreement The agreement will name the party or parties involved, the items subject to non-disclosure, the duration of the agreement and the obligations of the recipient(s) of confidential information.