Helping You Manage Risk Every Day

Important details for NDAs

It is not uncommon for companies in New Jersey to find themselves in a position where they must share sensitive business information with third parties. These third parties might be distributors, suppliers, partners, vendors and even employees. In some cases, if the information sharing is not allowed, essential business functions may suffer. In order to facilitate these functions while still protecting companies, nondisclosure agreements are commonly created.

As explained by Forbes, it is important to clearly identify what information is deemed confidential and is therefore covered by the terms of the nondisclosure agreement, or confidentiality agreement as it may also be referred to. Despite any temptation, the definition of the confidential information should be as focused and narrow as possible to avoid any ability that it may be misinterpreted. Such misinterpretation could pave the way for a dispute down the road unnecessarily so the upfront clarity is in everyone's best interest.

In addition, companies should carefully outline what will or will not happen should a dispute between the parties arise. For example, the contract may stipulate that some form of alternative dispute resolution such as mediation should be attempted prior to one party resorting to litigation. When the parties are in different states, the contract should specify what jurisdiction will rule the contract and any potential conflict.

If you would like to learn more about how to properly protect your business when sharing sensitive information, please feel free to visit the nondisclosure agreement page of our New Jersey business and contract law website.

No Comments

Leave a comment
Comment Information
Contact Us

Start Growing Your Business Today

Risk does not have to be an obstacle. For a free consultation, email or call us today to learn how we can benefit your business. Our office is in Paramus and we work with businesses throughout all of central and northern New Jersey, as well as the New York metro area.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Image Attorney

Nicoll Davis & Spinella LLP

Paramus Office
95 Route 17 South, Suite 316
Paramus, NJ 07652

Phone: 201-254-0777
Paramus Law Office Map

Morristown Office
3 Prospect Street
Morristown, NJ 07960

Phone: 201-254-0777
Phone: 862-345-7173
Map & Directions

New York Office
450 Seventh Avenue
Suite 2205
New York, NY 10123

Phone: 201-254-0777
Phone: 212-972-0786
Map & Directions

Visit Us On

Review Us Top