This form is a Basic Nondisclosure Agreement for use where possible disclosure of licensing, patents, or commercial trade secrets is a factor.
Kentucky Basic Nondisclosure Agreement
State:
Multi-State
Control #:
US-TS8025
Format:
Word;
PDF;
Rich Text
Instant download
Description
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How to fill out Basic Nondisclosure Agreement?
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FAQ
To create a legally-binding non-disclosure contract, you must use specific language when defining confidential information, parties, and scope. Broad language that can be interpreted many ways may not hold up in a legal dispute.
Make Sure You Both Sign It and Get a Counter-Signed Copy After toiling with meticulous details, parties can sometimes rush to move on to the next phase of business. But remember that if there aren't two signatures, the agreement is null and void.
Typically, a legal professional writing the NDA will complete these steps: Step 1 - Describe the scope. Which information is considered confidential? ... Step 2 - Detail party obligations. ... Step 3 - Note potential exclusions. ... Step 4 - Set the term. ... Step 5 - Spell out consequences.
NDAs that are oppressive, overreaching in scope and seen as an attempt to protect irrelevant information can also meet challenges and be invalidated by courts. Other reasons for invalidating an NDA include: Wrong party listed in the NDA ? Companies can use separate legal and trade names.
The Receiving Party agrees to use the Confidential Information solely in connection with the current or contemplated business relationship between the parties and not for any purpose other than as authorized by this Agreement without the prior written consent of an authorized representative of the Disclosing Party.
disclosure agreement (NDA) is a legally binding contract that establishes a confidential relationship. The party or parties signing the agreement agree that sensitive information they may obtain will not be made available to others.
To be valid, a Non-Disclosure Agreement only needs two signatures ? the disclosing party and the receiving party. It doesn't need to be notarized or filed with any state or local administrative office.
An NDA does not necessarily need to be witnessed, but it is recommended to have a witness present during the signing of the agreement to further strengthen the validity and enforceability of the contract.