Non Disclosure Agreement Vs Confidentiality Agreement In Illinois

• Category: Confidentiality and Nondisclosure - Evaluations Materials
• State: Multi-State
• Control #: US-00457
• Format: Word; Rich Text

Description

In Illinois, the distinction between a Non Disclosure Agreement (NDA) and a confidentiality agreement primarily lies in the scope of protection and specific use cases. A non disclosure agreement generally restricts the sharing of proprietary information and is often used to protect business secrets in transactions, whereas a confidentiality agreement tends to cover various types of confidential information, not just trade secrets. This Confidentiality Agreement requires the Contractor to keep any Evaluation Material provided by the Company private and restricts disclosures, except under certain conditions. Key features include obligations for returning materials if a transaction does not proceed and the potential for injunctive relief in case of breaches. Fill in the names of the parties and the governing state, and ensure authorized officers sign. This form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants working on business transactions or protecting sensitive information in professional relationships. During editing, ensure clarity in the parties' roles and the scope of the obligations outlined. Familiarity with both agreements can help legal professionals advise clients accurately on protection measures appropriate for their unique circumstances.