How long should a non-disclosure last?

The length of a non-disclosure agreement (NDA) should be determined by what a reasonable time frame is for the type of information that is being shared. If the NDA is too short, then you will not benefit from the maximum protection. If the NDA is set for too long a period, the other parties may be hesitant to sign it as it may interfere with future business plans. It is important to remember that an NDA only covers information that is not yet publicly known. Meaning, if the information you are trying to protect will go public, the length of the NDA should only extend until this time.

What are the different types of non-disclosure agreements?

Generally speaking, there are two types of non-disclosure agreements: unilateral and mutual. A unilateral NDA is used to only bind one party to keep confidential information. This type is usually used when only one party is disclosing information and the other party is receiving information, such as with a contractor, employee, or investor. A mutual NDA is used when all parties expect that they will share information. Situations where this is common are business mergers or collaborative sales efforts.

When should an NDA be put in place?

An NDA should be executed as soon as possible. Since an NDA only governs information sharing between parties, no other obligations or contractual requirements are placed on any party. If an NDA is executed early, you can avoid any unintentional disclosures and enter into talks knowing you are protected.

Can a non-disclosure agreement have more than two parties?

Yes. It is very common for NDAs to have multiple parties when a business deal involves multiple entities or when a party is using an agent.

What is a return clause?

Normally, information is transferred between parties. This could be shared files, access to computer systems, or work-product that have been created. A return clause stipulates that the receiving party will either return or destroy any of the information that they have received, ensuring that your proprietary information is protected.

Mutual Confidentiality Agreement

Use a mutual confidentiality agreement, also called a mutual non-disclosure agreement (NDA), to prohibit an individual or business from disclosing confidential information or trade secrets to others.

This agreement empowers the parties that sign it to freely discuss their ideas so that they may build successful business relationships without fear of losing their business opportunities.

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FAQs

When should I use a mutual confidentiality agreement?

When all parties involved expect to share sensitive information.
When buying or selling goods or services.
Any collaborative business arrangement.

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Step by step guidance to help you determine the options you need

Throughout the form, we explain all the terms and you’ll be guided on making the best choices for your confidentiality agreement.

Mutual Confidentiality Agreement

Use a mutual confidentiality agreement when all parties expect to share sensitive information. All parties will be bound to keep any disclosed information confidential.

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Confidentiality Agreement

Use a confidentiality agreement when only one party is sharing confidential or proprietary information. Only the receiving party will be bound to keep information confidential.

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Complete a Mutual Confidentiality Agreement in 4 Steps

Gather Information

Gather all the relevant information to complete your document. This may include party names, addresses, and confidential information that will be shared. It is advisable to determine what information may potentially be disclosed

Answer Key Questions

Use the information you collected to complete your confidentiality agreement. You will be guided through each step allowing you to customize your document to match your specific needs. The questions and information presented to you dynamically change depending upon your answers.

Review and Sign

It is always important to read your document thoroughly to ensure it matches your needs and is free of errors and omissions. After completing the questionnaire, you can make textual changes to your document by downloading it in Microsoft Word. If no changes are needed, you can simply download the PDF version and sign. These downloads are available by navigating to the Documents section of your account dashboard. When signing the document, be sure to follow any additional instructions related to signing and witnessing the document. Any such instructions will either be located next to the signature line or in the instructions attached at the end of the document. When using a notary, you must wait to sign the document until they are present.

Distribute and Store Copies

At a minimum, all parties that sign the document should receive a copy once it is fully executed (everyone has signed). Be sure to store your copy in a safe location. It is a good idea to keep both a physical and electronic copy.

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