Nondisclosure And Confidentiality Agreement In Illinois

• Category: Confidentiality and Nondisclosure - Potential Purchase
• State: Multi-State
• Control #: US-00456
• Format: Word; Rich Text

Description

The Nondisclosure and Confidentiality Agreement in Illinois is a legal document designed to protect sensitive information shared between a Company and a Contractor during discussions related to a potential purchase. Key features of the agreement include clear definitions of 'Confidential and Proprietary Information,' obligations for both parties to maintain confidentiality, and requirements for the return or destruction of confidential materials upon request. There are exceptions to confidentiality for information that becomes public, is obtained from other sources, or must be disclosed by law. This form serves various professionals, such as attorneys, partners, and associates, by providing a framework for legally safeguarding proprietary information in negotiations. It ensures that those involved understand the necessity of confidentiality and establishes the legal consequences for breaches. Filling out the form involves designating the Company and Contractor, and both parties must sign to validate the agreement. It is particularly useful for legal assistants and paralegals who may handle document preparation and ensure compliance with confidentiality standards.