What is a confidentiality agreement?
A confidentiality agreement which is also called a nondisclosure agreement-NDA, is a type of legal contract used to keep sensitive company information private. You can include confidential information, including company secrets, trading secrets, business plans, financial information, and other related subjects. It is a great way to secure your sensitive data and legal rights. You can also get more details by reading our article on confidentiality article.
Who can use a confidentiality agreement
Any person or organization that wants to secure their personal information can use a confidentiality agreement form. Besides agreements between companies, businesses can also use these forms to secure sensitive information when employing a new member and include it in their employment agreements.
NDAs also can be used to protect intellectual property rights, such as when a company is disclosing confidential information about a new product or invention to a potential licensee or investor before filing for a patent or other IP protection. Here are some example use for confidentiality agreements :
- A job candidate who provided access to confidential information
- A consulting firm may use a confidentiality agreement when providing services to a client. Such as doctors, lawyers, psychologists, etc.
- A developer who is sharing information with the manufacturer.
- When discussing its business idea with potential investors, a startup company may use a confidentiality agreement.
Different types of confidential agreements
There are different NDA agreement types depending on the area of use and limitations. For example, doctors and psychiatrists use HIPPA, which is a legal necessity. You can also create time-limited or permanent NDAs. Also, when employing a new member, you can use employee confidentially forms that ensures the security of company secrets. Here are some examples of uses for non-disclosing agreement forms:
- Employee NDA: Used generally by employers, employee confidentially forms ensure the security of company secrets.
- Partner NDA: It is generally used by the companies entering a partnership to protect confidential information.
- Mutual NDA: It is used when both parties are disclosing confidential information to each other, and both parties are required to keep the information confidential.
- Permanent NDA: It is used to create an agreement without any expiration date.
- One-way NDA: It is used if one of the parties shares confidential information without anything in exchange
- HIPAA business associate agreement BAA: Health insurance portability and accountability act is an NDA type that is particularly used by doctors and psychologists when sharing patient information with other healthcare providers.
What are the important elements you can add to your agreement?
Since the most important feature of this type of agreement is its limitations, we gathered some important details to follow when creating or signing this type of agreement. Here are several most used restrictions you can add to your confidentiality agreement:
- Time: By including time restrictions, you can specify how long the party will be responsible for the confidential agreement.
- Geography/place of use: You can specify a particular geographical area in your agreement.
- Exclusion: If you want to share your information but want to exclude some of the information, you can add exclusion to your agreement.
- Exceptions: You can indicate in which cases this agreement is not valid by including exceptions.
How can I create an online confidentiality form?
Online confidentiality forms are legally binding, and you can use the electronic signature feature to get the other party’s consent. With forms.app, creating online contracts and agreement forms is simple. On forms.app, you can easily create online agreements or consent forms without knowing any code. Include your terms and conditions, and start creating your online confidentiality form right now.
How can I use a confidentiality agreement form online?
You can collect information for an agreement to be specially drafted and then complete your direct deal by collecting signatures and presenting details of it with your confidentiality agreement form. So you can choose from suitable templates and decide which type of agreement you need and start immediately.