The best way to ensure your confidential business information is protected and not shared without permission is to enter into a written confidentiality agreement or non-disclosure agreement (NDA) with any person, company, or entity that will have access to this information.
A NDA should include the following: 1) an explicit statement of the purpose for which the confidential information can be used; 2) an obligation on both parties not to disclose or use any confidential information disclosed by one party for purposes other than fulfilling the stated contract; 3) a time period for which confidentiality must be maintained; 4) a list of all types of materials that are considered confidential and/or proprietary in nature; 5) provisions that address how long each party has been under such obligations before entering into the contract, as well as their duration after it ends and 6); consequences—usually financial damages—in case of breach. It is also important to note any exceptions, including if either party discloses something publicly prior to signing a contract.
It is highly recommended that you consult with an experienced attorney who specializes in NDAs when drafting your own documents in order to ensure proper legal protection. Furthermore, it may be advisable for you have someone review any document drafts from third parties before signing them as they could contain terms deemed unfavorable from your point of view. Additionally, depending on jurisdiction and circumstances specific laws may come into play so please make sure to keep abreast with relevant updates in your area or seek appropriate legal advice if needed.
By