Basic Nonconfidentiality Agreement
What this document covers
The Basic Nonconfidentiality Agreement is a legal document used to outline terms under which parties can discuss sensitive information without creating a confidential relationship. This agreement clarifies that any information exchanged during discussions can be used freely by all parties involved, thus distinguishing it from more stringent non-disclosure agreements.
Main sections of this form
- Identification of the subject matter for discussion.
- Clarification that no confidential relationship is created.
- Declaration that all discussed information is available for use by any party.
- Stipulation of how information will be evaluated and handled.
- Statement regarding the lack of any implied licenses.
- Requirement for written agreements for any obligations undertaken.
When to use this form
This form is useful when potential business partners or individuals need to discuss ideas, licensing, patents, or trade secrets without the protections typically afforded by a confidentiality agreement. Use it when you're in negotiation phases, brainstorming sessions, or exploratory discussions where the exchange of sensitive information might occur.
Who this form is for
This form is suitable for:
- Businesses entering preliminary negotiations.
- Individuals collaborating on projects involving sensitive information.
- Parties seeking clarity on the use of shared information in discussions.
How to prepare this document
- Identify the parties involved in the discussion.
- Specify the subject matter of the discussions in the designated area.
- Ensure that all parties agree that no confidential relationship is established.
- Record the date and have authorized officers sign the agreement.
- Retain copies for all parties involved in the agreement.
Is notarization required?
Notarization is not commonly needed for this form. However, certain documents or local rules may make it necessary. Our notarization service, powered by Notarize, allows you to finalize it securely online anytime, day or night.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to clearly define the subject of discussions.
- Assuming that verbal agreements are sufficient.
- Not having the agreement signed by authorized individuals.
Benefits of using this form online
- Convenient access to legal forms anytime, anywhere.
- Editable templates to customize according to individual needs.
- Form completion guidance to ensure accuracy and legality.
Legal use & context
- Establishes an understanding between parties without creating a confidential relationship.
- Outlines the responsibilities regarding information sharing.
- Helps mitigate misunderstandings during negotiations.
Key takeaways
- A Basic Nonconfidentiality Agreement clarifies that information can be shared freely without legal obligations.
- Ideal for preliminary discussions where formal confidentiality is not sought.
- Careful completion ensures all parties understand their rights and responsibilities.
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FAQ
Identify each party in the first section of the form. The NDA form will start by declaring it to be an agreement and identifying who the agreement is between. Whoever is disclosing the information to be protected is the "disclosing party"; write his or her name on this space.
2. Clearly label all confidential information as confidential. This means writing confidential on documents or any folder you keep them in. If you are sending an email, make sure the title clearly identifies it as confidential.
If you have any questions about what's contained in an NDA, it's OK to consult with a lawyer for advice. It's important to be aware how legal agreements work before signing or creating a document, as being well-informed can help you make the best legal decisions now and down the road.
Here's some breach of confidentiality examples you could find yourself facing: Saving sensitive information on an unsecure computer that leaves the data accessible to others. Sharing employees' personal data, like payroll details, bank details, home addresses and medical records.
Simply defined, a confidentiality statement for documents is a legally binding document stating that two parties won't profit from or share confidential information.
Depending on the complexity of what you need protected and the number of parties involved, the cost of having an NDA drafted can vary significantly. When you hire a lawyer in the Priori network, drafting an NDA typically costs anywhere from $175-$1,500.
Identification of the parties. Definition of what is deemed to be confidential. The scope of the confidentiality obligation by the receiving party. The exclusions from confidential treatment. The term of the agreement.
The NDA should clearly state the start and end date for the period of time in which the information may be exchanged between the parties. For example, you may wish to trade confidential information only at the start of the business collaboration. State the dates specifically.
Set the date of the agreement. Describe the two parties, sometimes called the Disclosing Party and the Receiving Party.7feff Include names and identification, so there can be no misunderstanding about who signed the agreement.
