What are some tips for drafting a Non-Disclosure Agreement?

What are some tips for drafting a Non-Disclosure Agreement?

When drafting an NDA, ensure you clearly define confidential information, specify the duration of confidentiality, and outline the obligations of both parties.

How long should the confidentiality last?

Typically, confidentiality can last from 1 to 5 years, but it depends on the nature of the information and the agreement between the parties.

What should I include in the definition of confidential information?

Include specific types of information such as trade secrets, business plans, and any proprietary data that needs protection.

Can I include a non-compete clause in the NDA?

Yes, you can include a non-compete clause, but ensure it complies with local laws and is reasonable in scope and duration.

What happens if someone breaches the NDA?

If someone breaches the NDA, the injured party can seek legal remedies, which may include damages or injunctive relief.