A confidentiality agreement is intended to protect the trade secrets and other confidential information between two or more parties, such as you and your vendor.
Under Texas law, a non-disclosure agreement is enforceable even if it is coupled with an unenforceable non compete agreement or invalid non-solicitation provision.
A confidentiality agreement should include a clear definition of the confidential information, scope of the agreement, obligations of the receiving party, the duration of the contract, any exceptions to confidentiality, and the consequences of a breach of the contract.
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.
A confidentiality agreement should include the names and addresses of the parties to the contract. Consider also including: Reason for the agreement: Explain why you're sharing this information. The information disclosed: Be specific about the subject matter and what exactly is included in the agreement.
No matter its title, an NDA is a binding contract, commonly used when two or more parties wish to enter into initial discussions about specific confidential processes, methods or technology, to consider a potential, future relationship, and to agree to restrict the usage and additional disclosure of the shared ...
Always execute an NDA prior to sharing any type of nonpublic information. That may even mean getting NDAs signed before issuing an RFP.
You should discuss NDAs with your providers early to ensure that you are covered. Some may have prebuilt NDAs ready to send for your review. Once the provider has signed an NDA, send them the RFP with a schedule and all the information they need to give you a comprehensive set of answers.
Transparency of Public RFPs vs. Private RFPs. Since private organizations exist in the competitive business world, their purchasing activities are usually strictly confidential. However, public entities must be as open with their practices as possible to ensure transparency with tax dollar funding.
To create an NDA simply and quickly, use a pre-existing non-disclosure agreement template like the pre-approved templates from . You should simply: Log in to and choose the NDA Template. Edit the template to include a description of the confidential information and the scope of the agreement.