A non-disclosure agreement (NDA) is a legal document that protects confidential information shared between two parties. It is essential in various situations like business transactions, job interviews, and partnerships.
Creating an NDA from scratch can be a daunting task, especially if you`re not familiar with legal jargon and formatting. However, finding a template online can save you time and effort. In this article, we`ll be discussing a free simple non-disclosure agreement template that you can use for your next business venture.
What is a Non-Disclosure Agreement?
A non-disclosure agreement is a contract that legally binds two parties to keep certain information confidential. The document outlines what information is considered confidential and how it should be handled.
When to Use a Non-Disclosure Agreement?
A non-disclosure agreement is necessary when you`re about to share confidential information with another party. Here are some common situations where an NDA is required:
– Pitching a business idea to potential investors
– Job interviews wherein you share confidential information about your former employer
– Partnerships when both parties need to share confidential information to achieve their goals
– Collaborations with freelancers and contractors who might have access to your business secrets
Why Use a Non-Disclosure Agreement Template?
Creating a non-disclosure agreement from scratch can be time-consuming and challenging. It`s also crucial to make sure that the document is legally sound and protects your interests. A template can help you save time and ensure that you`re using a comprehensive and legally binding document.
Free Simple Non-Disclosure Agreement Template
Here`s a free simple non-disclosure agreement template that you can use for your next business venture. Note that the template is for general informational purposes only and does not constitute legal advice.
Non-Disclosure Agreement
This Non-Disclosure Agreement (NDA) is made and entered into on [date] by and between [disclosing party name] („Disclosing Party“) and [receiving party name] („Receiving Party“), collectively referred to herein as the „Parties.“
WHEREAS, the Disclosing Party desires to disclose certain information to the Receiving Party for the purpose of [insert purpose].
NOW, THEREFORE, the Parties agree as follows:
1. Confidential Information
The term „Confidential Information“ refers to any information or materials disclosed by the Disclosing Party to the Receiving Party, whether in writing, orally, or in any other form, that is identified as confidential or would reasonably be considered confidential under the circumstances.
2. Obligations of the Receiving Party
The Receiving Party shall hold the Confidential Information in confidence and shall not disclose the Confidential Information to any third party without the prior written consent of the Disclosing Party.
The Receiving Party shall limit access to the Confidential Information to its employees, contractors, and agents who have a need to know such information for the purpose of [insert purpose] and who are bound by obligations of confidentiality no less stringent than those contained herein.
The Receiving Party shall use the Confidential Information only for the purpose of [insert purpose] and shall not use the Confidential Information for its benefit or the benefit of any third party.
The Receiving Party shall take reasonable measures to protect the Confidential Information from unauthorized disclosure or use, including but not limited to, using the same degree of care to prevent unauthorized disclosure or use of the Confidential Information as it uses to protect its own confidential information of a similar nature.
3. Term and Termination
This Agreement shall remain in effect until [insert date] or until terminated by either party upon written notice to the other party.
4. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [insert governing law].
5. Counterparts
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.
[Disclosing Party Name] [Receiving Party Name]
By: ______________________ By: ________________________
Print Name: ______________________ Print Name: ________________________
Conclusion
Whether you`re starting a business or collaborating with a freelancer, protecting your confidential information is crucial. Using a free simple non-disclosure agreement template can help you create a legally binding document in no time. However, it`s always best to consult with a legal professional to ensure that your NDA is comprehensive and tailored to your specific needs.