Confidentiality agreement: Uses, content and regulation

The confidentiality agreement will protect the sensitive or confidential information of your business against possible intrusion by third parties, for example, founders, employees, equipment, partners, investors, industrial partners, etc. Get to know through our guide how to use this contract, and the existing types according to its destination and the clauses that make it up.

What is a confidentiality agreement?

The confidentiality agreement or “NDA” is a contract between at least two entities to share confidential materials or knowledge for certain purposes, but restricting public use.

The “NDA” is the stated contract for those users who need guaranteed protected confidential information of your company when making an exchange of information with another company or individual that will work directly with such information. In this way, we ensure that the information will be used for the agreed purpose and excluding others. Criminal provisions that safeguard your interests of business in the event of misuse and help decide on future long-term pacts will be established.

When and how to use the confidentiality agreement? Tips

 Use this confidentiality agreement when:

• You are going to exchange confidential information with others (companies or individuals).
• To account to the other party of the importance and confidentiality of the information that you lend him.
• You need to impose requirements on the use of your confidential information.

What protection contains a confidentiality agreement?

The confidentiality agreement is created for the protection of the rights enshrined by the intellectual and industrial property law. This model contract shall contain:

Parties: entity, corporation, company or individual that signed the agreement.

A definition of confidentiality: making clear wthat it means confidential and what not.

Conditional clauses:

Restrictions on use of the information: who can know the information and who can not.

Exceptions: The use of the information will be valid if:

-The receiver knew previously that matters.

-The receiver has obtained that information from other sources.

-The information is public.

Duration: Start date and completion of the confidentiality agreement.

Criminal clause and penalties: penalty for improper use.

However, remember that a confidentiality agreement is not designed to protect rights of intellectual or industrial property in the strict sense, such as a brand or patent. To do this, there are other mechanisms (www.oepm.es and www.wipo.int/portal/es).

Learn about this contract with our legal guide on registration of rights prop. intellectual and industrial. If you have any doubts or you are interested in starting it, consult our experts.