This is a confidentiality agreement to be used when two law firms merge. This particular agreement is to be used when the two firms are negotiating a merger, and includes clauses that prohibit the hiring of the other firm's partners or emplyees during negotiations. The agreement also states that the negotiations are not exclusive, and each firm is free to negotiate with other firms during the period prescribed in the agreement.
North Dakota Confidentiality Agreement
Category:
State:
Multi-State
Control #:
US-L08021A
Format:
Word;
PDF;
Rich Text
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How to fill out Confidentiality Agreement?
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FAQ
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.
A confidentiality agreement is a standard written agreement that is used to protect the owner of an invention or idea for a new business. It is also an important document between two companies that are contemplating a merger or a commercial transaction that must be withheld from public knowledge.
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.
Such an agreement helps ensure employees and staff understand their obligations, encourages respect in their handling of confidential patient information, and provides valuable reassurance to the patient.
Confidentiality is important because: It builds trust. It promotes confidence (in the healthcare system, in the school system, in the workplace etcetera). It prevents misuse of confidential information (illegal or immoral use).
NDAs, or non-disclosure agreements, are legally enforceable contracts that create a confidential relationship between a person who has sensitive information and a person who will gain access to that information. A confidential relationship means one or both parties has a duty not to share that information.
A confidentiality agreement is a legally binding contract. If you disclose confidential information to another person under a confidentiality agreement, they are required to keep that information secret and confidential, and not misuse it.
The agreement should identify the purpose to which the recipient can put the confidential information. All other uses of the confidential information should be prohibited. Sometimes a confidentiality agreement states that no rights are licensed by the confidentiality agreement. This is stating the obvious.