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NRS 49.185 General rule of privilege. A client has a privilege to refuse to disclose, and to prevent any other person from disclosing, confidential communications: 1.
Like any other contract, confidentiality agreements require consideration, which means that the Receiving Party must receive something in exchange for its promise not to disclose the information.
A typical confidentiality clause might say, "The phrases and circumstances of this Agreement are completely confidential between the parties and shall not be disclosed to anybody else. Any disclosure in violation shall be deemed a breach of this Agreement."
NDAs, or non-disclosure agreements, are legally enforceable contracts that create a confidential relationship between a person who has sensitive information and a person who will gain access to that information.
Confidentiality agreement consideration is generally recommended, especially if you have sensitive information you wish to protect while entering into a contractual agreement, as a confidentiality agreement can give you legal recourse should the other party divulge information deemed confidential to a third party.
In Amos v. Commissioner, T.C. Memo 2003-329 (December 1, 2003), the U.S. Tax Court ruled that a confidentiality clause in a personal injury settlement made 40% of the settlement taxable as ordinary income.
What an agreement should contain identify the parties to be bound by the agreement. state the context and reasons for the agreement. define what information is considered confidential. set out the length of time over which the agreement is to be upheld. specify the restrictions on the disclosure and use of the information.