Creating a Confidentiality Agreement in TX
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Confidentiality agreements, which can also be called non-disclosure agreements (NDA’s) are made between at least two entities, who agree not to divulge any information about the other. NDAs are often used in the workplace or as a key starting point in entity transactions. For example, many employers ask employees to sign confidentiality agreements to restrain them from using confidential information obtained on the job after they leave the company.
To discuss your options for creating a confidentiality agreement, please contact our business attorneys to schedule a consultation. We serve The Woodlands, Texas and throughout Montgomery County.
What Do Confidentiality Agreements Cover?
NDAs typically first define the items that are covered under the term “Confidential Information.” Additionally, NDAs will provide how long the parties are restrained by the agreement. In many cases, this will be 6 months to 3 years after the termination of employment or transaction. Finally, NDAs discuss when the information is no longer considered confidential, such as when the information is available to the public at large.
Confidentiality agreements may be used for items such as:
- Plans for the company’s future
- Precious data and formulas
- Machinery and equipment
- Pricing structure
- Technology being developed
- Types of ingredients, materials, or substances used
- Any other items as listed in the confidentiality agreement
The information contained in a confidentiality agreement must be critical to the business functions or day-to-day operations to the extent that it may also be considered a trade secret. Therefore, the information must merit the scope of the protection and confidentiality that the parties are asking.
Schedule a Consult Today
If you require assistance with drafting your confidentiality agreement, please do not hesitate to contact our Woodlands business attorneys at Dossey & Jones, PLLC. As the legal processes concerning confidentiality agreements can be quite complex, we urge you to seek counsel now from our team to protect your rights.