Standard Non Disclosure Agreement Definition
The standard non disclosure agreement template is a document that helps you write down the contract and outlines the terms and conditions formally. This document is typically needed in the business field, which the confidentiality agreement is also attached to it.
So, what does the standard non disclosure contract mean? It is a contract that is written for recording the person’s or business’ promises to keep specific information. By signing this agreement, the party has agreed not to disclose any information to another party. If you want to draft this agreement, you can download it in various formats, such as standard non disclosure agreement PDF, Word, Excel, and so on.
So, do you need to hire an attorney to draft the non disclosure contract? The answer depends on you, but you don’t need an attorney to write this agreement. You can download the template on our page which is enforceable. However, we suggest you contact your attorney to help you break down the details because this person knows a lot about the local law and can connect your business and the local law.
Technically, the non disclosure agreement is a document that states the parties agree to give up the freedoms and legal rights. Still, if you draft an NDA without knowing what you are writing, then you will create so many loopholes or error which makes this document is not enforceable. There are specific questions you have to ask yourself when creating this document, such as:
- The power of the NDA, whether this will protect your information 10x higher than several dollars you spend for the attorney. If it is true, then you might waste your money.
- However, there is a limitation on how this agreement lasts. However, it depends on you how much you know about the public domain, and also the length of time.
In conclusion, just like another legal contract, you will need the lawyer guidance to make this legal contract because this depends on your ability how you will make this enforceable.
Who Should Use Sign The Non Disclosure Agreement?
Certain people are required to sign this document due to their access to certain information, such as:
- Employees – Even though they don’t hold a prominent position, once employees have specific information from your company that can put you on significant risk, they need to sign this agreement.
- Third parties – The third parties are the ones who get access to certain information in your company, such as the manufacturers, developers, agents, distributors, auditors, and so on.
- Angel investor – Even though you are building a startup and present your idea to the angel investor, they have to sign the agreement. It is very crucial because you will reveal your big ideas to another person that might use it.
However, writing this standard non disclosure agreement requires specific consideration. Is the ideas or information matter that can affect your business? The threat of disclosure, and also the person you are sharing with.
Sample Standard Non Disclosure Agreement Template