Reciprocal Non Disclosure Agreement

Formats:

Overview

An NDA for use in protecting information to be disclosed between two parties.

• Concise two page Solicitor drafted template.
• Easily customisable and yours to re use as many times as required.
• Save, amend and store your template and documents in your virtual control panel.
• Recieve any updates to the template free of charge.

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Reciprocal Non Disclosure Agreement

Our Reciprocal Non Disclosure Agreement is designed for use when two parties will disclose information to each other. A Reciprocal Non Disclosure Agreement, also referred to as a Two-Way Non Disclosure Agreement, is commonly used when two businesses need to share their confidential information with one another in the course of business. Our Reciprocal Non Disclosure Agreement template can be tailored to your requirements with simple customisation and can be used for a specific purpose.

Protecting your business should be the most important thing you do to ensure its success. One way to do that is to have confidentiality agreements in place for ensuring that your business secrets stay secret.  You can use a One Way Non Disclosure Agreement for individual parties or you can use the Reciprocal Non Disclosure Agreement between companies. While browsing this website you will find a template for both of these documents.

Whenever information is going to be shared there should be a confidentiality agreement in place. It does not mean that you do not have confidence in the party to whom you are divulging the idea or secret; it is just good business. Although you can use a Non Disclosure Agreement with anyone who will be getting the information, a Reciprocal Non Disclosure Agreement is generally between two businesses.

The knowledge that is shared between two businesses means that by signing the agreement neither company will disclose secrets. Anyone that is in business can realise the importance of keeping trade secrets intact.

Templates that you will find on this website can be tailored to meet your specific needs. This makes them very cost effective for your company to use. Cost is not the only benefit to your business though as you will have them on hand each and every time you need an agreement of this nature.

The basic agreement should include some key points. You will need to define the company obligations, any customer obligations that could be applicable as well as general information pertaining to the agreement. Use the Reciprocal Non Disclosure Agreement if your company is considering a partnership with another company, a joint venture or any purpose where you would be giving out secret information.

Both parties must sign the document to make it legally binding. When your business has information that is to be confidential, make sure the agreement states it in this way. It could be that some of the information that will be exchanged is already known so it would not necessarily need to, or be capable of, being confidential. Your company needs to be diligent in recording the exact knowledge that is to be kept secret.

One of the sections of the agreement will deal with the terms of the Non Disclosure Agreement. They again should be clearly defined so that there is no question about what is to be kept confidential. You should also see a clause that states what happens to the information if the venture does not go through. The information should be returned to both companies with the understanding that the trade secrets or confidential information is still confidential.

Once you have the Reciprocal Non Disclosure Agreement on hand you will be able to use it as many times as you need to. This means that you can proceed with any business transaction you need to make, to ensure that your company can continue to grow with confidence.