Confidentiality Provision In A Release

State:
Multi-State
Control #:
US-ND2306
Format:
Word; 
PDF
Instant download

Description

The Confidentiality provision in a release addresses the protection of sensitive information shared between parties. It defines 'Confidential Information' and includes financial data, customer identities, and proprietary strategies. The section emphasizes the obligation of the Recipient to maintain confidentiality both during and after the agreement term, restricting disclosure without prior written consent. Specifics detail situations of unauthorized use and the required actions, such as notifying the Company and assisting in prevention efforts. The form also outlines guidelines for permitted disclosures, return or destruction of confidential materials upon agreement termination, and procedures for compelled disclosures mandated by legal authorities. In cases of breach, it allows for injunctive relief and includes an indemnity clause to safeguard the Company from damages. This comprehensive structure supports legal professionals by providing clear guidelines for maintaining confidentiality, mitigating risks, and protecting client interests. Attorneys, partners, and associates can utilize this form to ensure compliance and protect proprietary information, while paralegals and legal assistants can assist in executing the document and ensuring all parties understand their obligations.
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FAQ

A legally-binding confidentiality agreement must feature the following components:A definition of confidential information.Who is involved.Why the recipient knows the information.Exclusions or limits on confidential information.Receiving party's obligations.Time frame or term.Discloser to the recipient.More items...

Confidential Information includes but is not limited to patient records, student records, financial records, human resources/payroll records, legal documents, and research data.

A typical confidentiality clause might say, "The phrases and circumstances of this Agreement are completely confidential between the parties and shall not be disclosed to anybody else. Any disclosure in violation shall be deemed a breach of this Agreement."

Describe what the other party is agreeing to.Exercising reasonable precautions against disclosure of the information.Not disclosing Confidential Information without the written consent of the Disclosing Party.Using the information only for business purposes, and only on a need to know basis.More items...?

A confidentiality agreement is a legal contract or clause that is used to protect the owner's proprietary or sensitive information from disclosure by others.

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Confidentiality Provision In A Release