Important elements
The most important element of a non-disclosure agreement is the delineation of the information for which you wish to agree a confidentiality obligation. You need to consider carefully which business information is of such importance that it requires protection. The purpose for which the information is shared, the duration of the confidentiality obligation, the consequences of breaching the confidentiality agreement are also important elements that must be included in a non-disclosure agreement.
Consequences of non-compliance with an NDA
In an NDA, you can attach consequences to non-compliance with the non-disclosure agreement. When the NDA is violated by one party, the other party suffers damages as a result. The amount of that damage is often very difficult to determine. That is why it is very wise to include a penalty clause in the non-disclosure agreement. That way, the damage no longer needs to be substantiated. It suffices to simply demonstrate that the other party has violated the NDA. In addition, it is important to include that actual damage suffered can also be recovered if the damage exceeds the amount of the fine.
Foreign counterparty
When drawing up a non-disclosure agreement with a party established in another country, it is of great importance that the NDA chooses the correct applicable law and the correct form of dispute resolution. Let an experienced lawyer advise you on this.
Custom made
Drawing up a non-disclosure agreement is custom work, and we are happy to help you with this! Also in case of disputes regarding an NDA, or just in case of questions, please contact Legal Q.