Shhh … Don’t Tell Anyone: Tips on NDAs
When considering entering into a non-disclosure agreement between two commercial entities, the first question to ask is whether it is necessary for either party to be disclosing confidential information, writes Kathleen Wegrzyn in Foley & Lardner’s Manufacturing Industry Advisor blog.
She writes that the best way to protect your confidential information is to not disclose it at all, if it is not necessary for the transaction.
But “when entering into an NDA, a party should carefully consider the scope of the definition of ‘Confidential Information,’ pay close attention to the non-use and non-disclosure provisions, include a confidentiality period and a provision providing for the return of the Confidential Information, and ensure that no terms other than those related to confidentiality are included in the NDA,” according to Wegrzyn.
