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Business Plan Confidentiality Statement

A business plan serves as a comprehensive roadmap that outlines the strategic vision, objectives, and operational framework of a business venture. It encompasses critical details such as market analysis, financial projections, marketing strategies, and operational procedures, providing a comprehensive overview of the business’s objectives and trajectory. In the process of developing a business plan , entrepreneurs often encounter the necessity of safeguarding sensitive and proprietary information, prompting the inclusion of a confidentiality statement within the document. A business plan confidentiality statement is a vital component that underscores the commitment to protecting confidential information and proprietary data, ensuring that the business’s competitive edge and strategic insights remain secure and safeguarded from unauthorized disclosure or misuse.

Purpose and Scope of the Confidentiality Statement

The primary purpose of a business plan confidentiality statement is to establish a legally binding agreement between the business and the intended readers or recipients of the business plan. This agreement emphasizes the confidential nature of the information contained within the business plan and serves as a formal acknowledgment of the recipient’s responsibility to maintain the confidentiality of the proprietary data and insights shared by the business. By clearly defining the scope and parameters of confidentiality, the statement reinforces the business’s commitment to protecting its intellectual property, trade secrets, and strategic business insights from unauthorized access, distribution, or exploitation.

Key Components of a Business Plan Confidentiality Statement

A robust business plan confidentiality statement typically includes the following key components:

  • Definition of Confidential Information: Clearly defining the scope of confidential information that is encompassed within the business plan, including proprietary data, financial projections, marketing strategies, operational procedures, and any other sensitive business insights that are not intended for public disclosure.
  • Non-Disclosure Commitment: Outlining the recipient’s obligation to maintain strict confidentiality and refrain from disclosing, reproducing, or distributing the confidential information contained within the business plan to any external parties without the prior written consent of the business.
  • Limitations on Use: Stipulating the permissible uses of the confidential information solely for the purpose of evaluating the business proposal and facilitating potential business collaborations or investment opportunities, emphasizing the restriction on using the information for personal gain or competitive advantage.
  • Duration of Confidentiality: Specifying the duration of the confidentiality agreement, including the timeframe during which the recipient is obligated to maintain the confidentiality of the information, as well as any provisions for the perpetual protection of certain proprietary information beyond the termination of the business relationship.
  • Legal Recourse and Remedies: Enumerating the legal remedies and consequences associated with the breach of confidentiality, including potential legal action, financial penalties, and the imposition of injunctive relief to mitigate the unauthorized dissemination or misuse of the confidential information.
  • Binding Nature of the Agreement: Expressing the mutual agreement and understanding between the parties involved, highlighting the binding nature of the confidentiality agreement, and underscoring the significance of adhering to ethical business practices and professional integrity throughout the business engagement.

Ensuring Comprehensive Protection of Intellectual Property

By incorporating a well-crafted confidentiality statement within the business plan, entrepreneurs can proactively safeguard their intellectual property, trade secrets, and proprietary business insights, fostering a secure and trustworthy environment for sharing confidential information with potential investors, business partners, or stakeholders. The inclusion of a confidentiality statement not only fortifies the legal protection of sensitive data but also reinforces the business’s commitment to transparency, integrity, and ethical business conduct, fostering a culture of mutual trust and respect within the realm of business collaborations and strategic partnerships.

Examples of Confidentiality Statements For Business Plans

Here are a few examples of business plan confidentiality statements that you can use as references or templates for drafting your own business plan confidentiality agreement:

Simple Business Plan Confidentiality Statement:

“This business plan and the information contained herein are confidential and proprietary to [Company Name]. The recipient acknowledges that the information provided in this document is solely for the purpose of evaluating potential business collaborations or investment opportunities and agrees to maintain strict confidentiality. The recipient further agrees not to disclose, reproduce, or distribute any part of this business plan without the prior written consent of [Company Name]. Any unauthorized use or disclosure of this information may result in legal action and other appropriate remedies.”

Comprehensive Business Plan Confidentiality Statement:

“The contents of this business plan, including all financial, operational, and marketing data, are the sole and exclusive property of [Company Name]. The recipient acknowledges that the information provided in this document is strictly confidential and is disclosed solely for the purpose of evaluating potential business opportunities. The recipient agrees to exercise the utmost discretion in safeguarding the confidentiality of this information and to refrain from disclosing, reproducing, or disseminating any part of this business plan to any third party without the express written consent of [Company Name]. Any unauthorized use, disclosure, or distribution of this information may result in legal action, financial penalties, and injunctive relief to protect the proprietary interests of [Company Name]. This confidentiality agreement remains valid for a period of [specify duration] following the termination of any business relationship or engagement.”

Confidentiality Statement for Business Plan Presentation:

“This presentation contains confidential and proprietary information belonging to [Company Name] and is intended solely for the use of the intended recipients. The recipient acknowledges that the information provided in this presentation is of a sensitive and confidential nature and agrees to maintain the strictest confidence in safeguarding the proprietary data and insights shared herein. The recipient further agrees not to disclose, reproduce, or distribute any part of this presentation without the express written consent of [Company Name]. This confidentiality obligation extends to all discussions, materials, and information shared during or following the presentation. Violation of this confidentiality agreement may result in legal action and other appropriate remedies to protect the intellectual property and business interests of [Company Name].”

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How to Write a Business Plan Confidentiality Agreement

Are you about pitching your idea to investors? If YES, here is a detailed guide on how to write an ironclad confidentiality agreement for a business plan. Confidentiality statements are documents that are prepared for the safety of parties that are about to go into a business contract.

Also known as non-disclosure agreements, confidentiality statements help to preserve sensitive information that various business parties might bring to the table when transacting business. Business confidentiality statement in essence is a document that states that when a company’s business plan has been revealed, they will not be able to discuss the contents of it with anyone that is not part of the agreement.

Confidentiality or nondisclosure agreement has various uses in the world of business. An individual with a patentable invention or idea may need to enter into partnership with a manufacturer or marketing firm; and of course, he would want to keep his or her invention a secret.

Again, two companies considering a joint venture may need to share the names of their investors – but may not want those names to reach competitors’ ears. Confidentiality agreements can cover all these scenarios; the parties can tailor them to their specific needs before a meeting or negotiation, or over the course of a contractual relationship.

Tips to Note When Writing a Business Plan Confidentiality Statement

A. use the proper contract format.

The proper contract format that is generally used when writing a confidentiality statement is the standard contract format. In this writing format, single-spaced paragraphs with a double space between them is used. Each paragraph constitutes a separate term of the contract and are also numbered for specification. If you have any sub-paragraphs, indent them under the main paragraph and mark them with a letter, as though you were writing an outline.

B. Agreement type

There are two types of agreement to use when writing your confidentiality statement. A unilateral and mutual confidentiality agreement. A unilateral confidentiality agreement is used when only one party is disclosing information, while a mutual agreement is used when both or all parties involved are disclosing information.

You have to decide whether the confidential relationship established will be mutual or one-way. Mutual confidentiality agreements are necessary when you’re providing information to a company so they can provide you with something secret in return. For example, you may be disclosing your plans for a secret invention to a professional who will help you devise a marketing plan.

You need a one-way confidentiality agreement if you need to share confidential information with an employee or contractor who will not be sharing secrets of their own, simply doing work for you. There are also other scenarios where you may require either type of agreement, that is why you have to note the type of confidentiality agreement you need.

How to Write an Ironclad Business Plan Confidentiality Agreement

Provide a list of parties involved in the agreement.

When writing a confidential agreement, you must identify who are the parties to be covered by the agreement. If someone is to be involved in the agreement, but he or she is not listed, you must know that the agreement is not binding on them.

For example, if the agreement is between two companies, the CEO of the company may be able to sign for her entire company, but the agreement should also specify that all employees of the company who have access to the information are bound by its provisions.

Parties can be identified by referring to classes of people, such as “employees” or “engineers,” as long as the person signing the agreement has the authority to bind those people.

Unless the agreement forbids a contractor to have a subcontractor assist with the work, all subcontractors should be included as parties to the agreement as well. This is done so as not to leave any loopholes behind that people can take advantage of.

Describe what the other party is agreeing to

In this part, you need to make known the types of information you wish to keep confidential. This can include any sort of information that might be exchanged between the parties. For instance, if you are designing a software, you might include not only the code and design of the app itself, but also any prototypes, testing procedures and results, or reviews and comments from designers.

This portion of the agreement is designed to set the boundaries of confidential information without disclosing the information itself. It can also be stated that information cannot be disclosed without written consent of the Disclosing Party. The information should only be used for business purposes, and only on a “need to know” basis. And that the information can only be disclosed when the receiving party signs a non disclosure agreement.

List information excluded from confidentiality

Of course not all information should be hidden in a business arrangement. So, for this reason, you need to specify the information that are not under confidentiality. These information may not be a list of specific things, but broad categories of information that don’t have to be protected as confidential. Most of these categories are created by law.

For instance, if an information is already public knowledge then it is not be put under the category of protection. Likewise, information that the receiving party learns from a third party or of which they had prior knowledge cannot be considered confidential, and should be listed as non confidential.

One of the most important exclusions is that if the receiver creates something independently before entering the confidential relationship, it cannot be considered party of the confidentiality agreement even if it happens to use or include some of the same or similar secret information or processes.

Other things that are not under the confidentiality agreement include;

  • An information the Receiving Party owned before the agreement
  • If the Receiving Party legally received it from another source
  • If the Receiving Party is required to disclose in a lawsuit or administrative proceeding
  • If it is being or has been developed by the Receiving Party’s employees, consultants, or agents.

Describe what happens if the other party breaches the contract

Wherever there is a law, there must be consequences for breaking it. A typical remedy for this type of contract is an injunction. You can ask for a court order to stop the person who breached confidentiality from continuing to share the information in violation of the agreement.

In some federal cases, under the DTSA, a court may grant the owner the right to seize the property which may be used in “extraordinary circumstances.” You may also require the return of Confidential Information.

You also have the ability to sue for damages incurred as a result of the breach of confidentiality, which may include penalties. For example, in some states you may have the ability to get double or triple damages if the breach was intentional rather than accidental.

Some confidentiality agreements include stiff financial penalties if secret information is revealed to the general public. Others leave the consequences up to a judge or arbitrator to decide. How detailed you want to get with penalties generally relates to how unique the information being disclosed is, and how damaging it would be if it got out.

Establish the obligations of the party receiving the information

Confidentiality agreements typically limit the ways the receiving party can use the confidential information provided, as well as provide the standard for keeping and protecting confidential information.

For example, if you’re looking for investor evaluations of something you’ve invented, your confidentiality agreement may specify that the information can only be used for the purposes of evaluating the product and not in the evaluator’s own business.

If you’re having an employee or contractor sign a confidentiality agreement, you would probably want to limit your employee’s use of information to the performance of job duties directly related to the employment.

Many confidentiality agreements recite that receivers must keep the information disclosed to them in the same way they would keep their own confidential information. However, this statement only works if the receiving party has a known policy for handling confidential information.

Generally, confidentiality standards include limiting access to the information and taking basic precautions to keep the information secure so it doesn’t easily fall into outside hands. Such precautions might include, for example, using encryption for emails discussing the confidential information.

If your confidentiality agreement relates to software designs, inventions or technology, it should include a statement that the receiver of the information has no license, expressed or implied, in the information by virtue of its disclosure.

State when the agreement ends

Whatever has a beginning must have an end, and same applies to a confidentiality agreement. In writing one, you have to specify when the agreement is going to elapse, and when the parties can get out of the loop. State when the agreement ends and what notice must be given to the other party about the termination. You can set one of two options for when the agreement ends:

Your agreement should specify two time periods: the period during which disclosure will be made, and the time period thereafter during which the information should be kept confidential.

American confidentiality agreements typically last for a period of five years, although some may only last two or three years. The end point doesn’t have to be a specific date, but there should be a specific date used as a starting point. Otherwise it’s unclear when the agreement will take effect and for how long it will be enforceable.

If your agreement specifies a confidentiality period of two years, for example, but fails to establish when that two year period starts, the receiver of the information can argue that she didn’t believe the agreement had gone into effect yet.

Another way to set a specific starting date is to have the confidentiality period start from the date the agreement is signed. If you use this method, make sure you don’t disclose any secrets until you have the signature and the agreement is in force.

The confidentiality time period also may end when a certain event happens. For example, if you’re seeking evaluation of a new product, the confidentiality period may end when you market and distribute that product in stores.

Add any necessary miscellaneous provisions

This section is typically located towards the end. The miscellaneous section is sometimes called boilerplate. All agreements contain various clauses that don’t fit in any other section, such as which state’s law will apply and whether attorneys’ fees will be available to an injured party if they agreement is breached. These agreements are then put under the miscellaneous section. This section, though negligent, but should not be overlooked because of the details it is wont to contain.

Provide space for all parties to sign the agreement

For your confidentiality agreement to be binding, it has to be signed. For this reason, you have to provide a page where parties involved in the agreement would pen down their signatures. Without the agreement signed, it cannot go into effect.

With the use of a confidentiality statement, otherwise known as a non-disclosure agreement, the parties can keep nonpublic information under wraps. These contracts bind the parties to very specific pledges on the disclosure of information and are enforceable under the laws of the state where they are created.

More on Business Plan Tips

Business Confidentiality Statement

Its a tool that businesses use when they discuss their business plan with others who will be given information that the company wishes to keep a secret. 3 min read updated on February 01, 2023

A business confidentiality statement is a tool that businesses use when they discuss their business plan with others who will be given information that the company values or wishes to keep a secret. In essence, it is a document that states that when a company's business plan is seen, they will not be able to discuss the contents of it with anyone outside of the agreement.

Confidentiality statements may also be referred to as non-disclosure statements that sales representative and other employees often sign but are typically used in regards to exposure to a company's business plan. They are intended to provide protection for both parties involved in a business plan or transaction.

How Can a Confidentiality Statement Protect You?

In every confidentiality agreement, there should be a provision that states that both parties will not disclose any of the information they are about to discuss or see in a business plan. In addition to that, there should also be a provision that covers damages which will occur in the event that a party breaches the agreement. This is often a place to list the monetary liability the party may be sued for.

If you do not have a confidentiality agreement in place when you write your business plan, then you are opening the door for anyone who sees your business plan to use parts of it without your permission. While copyright law may protect a large amount of it, not all of it will be protected.

If you do have a confidentiality agreement in place and someone does breach it , you will be entitled to some form of compensation and be able to possibly obtain a judgment from the breaching party. If you do not have an agreement in place, the courts are not likely to give you any damages if someone were to steal your idea.

When Do You Need a Confidentiality Agreement?

It is good practice to have a confidentiality agreement anytime that you make a business plan. Some of the benefits of having a confidentiality agreement include:

  • You can make sure that your financial information stays private.
  • You can protect your ides even though the plan may need to be seen by multiple parties.

You should request a signed confidentiality agreement when showing your business plan to anyone, even to a bank. Even though they work for an organization that values confidentiality, it does not mean that everyone working there will be ethical. Always make sure the agreement is signed before handing the business plan over.

Confidentiality Statement Business Plan

The downside of requiring a confidentiality agreement for your business is that it may turn off investors as it can signal distrust. They may feel that you think they plan on stealing your idea and may not be comfortable providing funds for the investment. Other reasons that you may choose not to use a confidentiality agreement include:

  • It can make it seem as though you are a novice.
  • Some people may find it offensive.
  • You may not be able to secure funding and keep it confidential.

Who Signs a Confidentiality Statement of a Business Plan?

In typical fashion, confidentiality agreements would precede or accompany a business plan submission. When requiring the signing of a confidentiality agreement, you should require signing by anyone who you anticipate will see the plan to ensure the information contained in it is confidential.

Considerations

There are some considerations that need to be made before deciding to use a confidentiality agreement. The first is that your confidentiality agreement is not only protecting an invention, but it also should be used to protect:

  • Business ideas.
  • Strategies.

Until you have received financing or the investment you need to get your business started, anyone will be able to create an identical business without having to ask permission.

It is also important when drafting a confidentiality agreement that it is simply stated and clearly outlines what needs to be protected and what can occur if the agreement is violated. The agreement should be non-intimidating in its verbiage. you can use this agreement for anyone who you may be in contact with about your business before it is stared such as financers, clients, and potential vendors.

If you need help with a business confidentiality statement, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

Hire the top business lawyers and save up to 60% on legal fees

Content Approved by UpCounsel

  • Confidentiality Agreement
  • Purpose of a Confidentiality Agreement
  • Confidentiality Contracts
  • Penalty for Breach of Confidentiality
  • How to Draft a Confidentiality Agreement
  • Drafting Confidentiality Agreements: What You Need to Know
  • Confidentiality Clause Sample
  • Confidentiality Agreement Law
  • Confidentiality Agreement for Business Partners
  • Confidentiality Agreement Consideration

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Business Plan Non-Disclosure Agreement (NDA)

example of confidentiality statement for business plan

The business plan non-disclosure agreement is intended for use when sharing a business plan with consultants, investors, contractors, potential employees, and anyone else evaluating your planned enterprise. Regardless of the size or complexity of your plan, it is likely to include confidential information that hopefully gives you an advantage over competitors. Such information could include your marketing plan, revenue forecast, and capital spending. Note, if you use an NDA with your business plan with one person, you must use NDAs for all who read it, and you should mark the plan as “confidential.”

Product Development NDA – Use when consulting with third (3rd) parties about a potential invention and its use and functionality.

BUSINESS PLAN NON-DISCLOSURE AGREEMENT   This agreement (the “Agreement”) between _________________ (the “Disclosing Party”) and _________________ (the “Receiving Party”) is effective _________________ and is intended to prevent the unauthorized disclosure of Confidential Information (as defined below) contained in and relating to the business plan of Disclosing Party. The parties agree as follows: 1. Confidential Information “Confidential Information” is proprietary trade secret information contained within and relating to Disclosing Party’s business plan including but not limited to: business description, marketing plan, sales revenue forecast, profit and loss forecast, capital spending plan, cash flow forecast, future trends, personnel plan, business goals, personal financial statement, supporting documents and information conveyed in writing or in discussion that is indicated to be confidential. 2. Non-Disclosure Receiving Party will treat Confidential Information with the same degree of care and safeguards that it takes with its own Confidential Information, but in no event less than a reasonable degree of care. Without Disclosing Party’s prior written consent, Receiving Party will not: (a)  disclose Confidential Information to any third party; (b)  make or permit to be made copies or other reproductions of Confidential Information; or (c)  make any commercial use of Confidential Information. Receiving Party will carefully restrict access to Confidential Information to those of its officers, directors and employees who are subject to non-disclosure restrictions at least as protective as those set forth in this Agreement and who clearly need such access to participate on Receiving Party’s behalf in the analysis and negotiation of a business relationship or any contract or agreement with Disclosing Party. Receiving Party will advise each officer, director or employee to whom it provides access to any Confidential Information that they are prohibited from using it or disclosing it to others without Disclosing Party’s prior written consent. 3. Return of Business Plan Materials Upon Disclosing Party’s request, Receiving Party shall within 30 days return all original materials provided by Disclosing Party and any copies, notes or other documents in Receiving Party’s possession pertaining to Confidential Information. 4. Exclusions This agreement does not apply to any information that: (a)  was in Receiving Party’s possession or was known to Receiving Party, without an obligation to keep it confidential, before such information was disclosed to Receiving Party by Disclosing Party; (b)  is or becomes public knowledge through a source other than Receiving Party and through no fault of Receiving Party; (c)  is or becomes lawfully available to Receiving Party from a source other than Disclosing Party; or (d)  is disclosed by Receiving Party with Disclosing Party’s prior written approval. 5. Term This Agreement and Receiving Party’s duty to hold Confidential Information in confidence shall remain in effect until _________________ or until whichever of the following occurs first: (a)  Disclosing Party sends Receiving Party written notice releasing it from this Agreement, or (b)  Confidential Information disclosed under this Agreement ceases to be a trade secret. 6. No Rights Granted This Agreement does not constitute a grant or an intention or commitment to grant any right, title or interest in Confidential Information to Receiving Party. 7. Warranty Disclosing Party warrants that it has the right to make the disclosures under this Agreement. 8. General Provisions (a)  Relationships.  Nothing contained in this Agreement shall be deemed to constitute either party a partner, joint venturer or employee of the other party for any purpose. (b)  Severability.  If a court finds any provision of this Agreement invalid or unenforceable, the remainder of this Agreement shall be interpreted so as best to effect the intent of the parties. (c)  Integration.  This Agreement expresses the complete understanding of the parties with respect to the subject matter and supersedes all prior proposals, agreements, representations and understandings. This Agreement may not be amended except in a writing signed by both parties. (d)  Waiver.   The failure to exercise any right provided in this Agreement shall not be a waiver of prior or subsequent rights. (e)  Injunctive Relief.  Any misappropriation of Confidential Information in violation of this Agreement may cause Disclosing Party irreparable harm, the amount of which may be difficult to ascertain, and therefore Receiving Party agrees that Disclosing Party shall have the right to apply to a court of competent jurisdiction for an order enjoining any such further misappropriation and for such other relief as Disclosing Party deems appropriate. This right of Disclosing Party is to be in addition to the remedies otherwise available to Disclosing Party. (f)   Indemnity.  Receiving Party agrees to indemnify Disclosing Party against any and all losses, damages, claims or expenses incurred or suffered by Disclosing Party as a result of Receiving Party’s breach of this Agreement. ( g)  Attorney Fees and Expenses.   In a dispute arising out of or related to this Agreement, the prevailing party shall have the right to collect from the other party its reasonable attorney fees and costs and necessary expenditures. (h)  Governing Law. This Agreement shall be governed in accordance with the laws of the State of _________________. (i)   Jurisdiction.   The parties consent to the exclusive jurisdiction and venue of the federal and state courts located in _________________ in any action arising out of or relating to this Agreement. The parties waive any other venue to which either party might be entitled by domicile or otherwise. ( j)   Successors & Assigns . This Agreement shall bind each party’s heirs, successors and assigns. Receiving Party may not assign or transfer its rights or obligations under this Agreement without the prior written consent of Disclosing Party. However, no consent is required f­or an assignment or transfer that occurs: (a) to an entity in which Receiving Party owns more than fifty percent of the assets; or (b) as part of a transfer of all or substantially all of the assets of Receiving Party to any party. Any assignment or transfer in violation of this section shall be void.   Disclosing Party: _____________________________________________ (Signature) _____________________ (Typed or Printed Name) Title: _____________________ Date: _____________________   Receiving Party: _____________________________________________ (Signature) _____________________ (Typed or Printed Name) Title: _____________________ Date: _____________________

How to Write

EXPLANATION FOR BUSINESS PLAN NON-DISCLOSURE AGREEMENT

Below we provide an explanation for each of the provisions of the Business Plan Non-Disclosure Agreement.

Introductory Paragraph

Fill in your company name (you are the disclosing party).  Fill in the name of the outside individual or company being granted access to your trade secrets (the Receiving Party). Finally, fill in the date the agreement will take effect. This can be the date it’s signed or a date in the future.

1. Confidential Information

This section defines what is protected against disclosure. Keep in mind that if you are disclosing information in conjunction with the plan, you should designate that information as confidential. If the information is spoken, you should announce the confidentiality.

2. Non-Disclosure

This clause makes clear that your trade secrets must be kept in confidence by the receiving party and may not be revealed to others without your prior written consent.

3. Return of Business Plan Materials

Here, the receiving party promises to return your business plan and related materials provided by your company, as well as copies, notes, and documents pertaining to the business plan. The agreement gives the receiving party 30 days to return the materials, but you can change this time period if you wish.

4. Exclusions

This provision describes all the types of information that are not covered by the agreement. These exclusions are based on court decisions and state trade secret laws that say these types of information do not qualify for trade secret protection.

This clause provides the receiving party with an expiration date for the agreement. The Agreement should last as long as the information is likely to remain a trade secret. Five years is a common period, but it can be much shorter, even as little as six months. In Internet and technology businesses, the time period may need to be shorter because of the fast pace of innovation.

6. No Rights Granted

This clause makes clear that you are not granting any ownership rights in the confidential informat­ion to the receiving party.

7. Warranty

A warranty is a promise. Here, you promise the receiving party that you have the right to disclose the information. This is intended to assure the receiving party that it won’t be sued by some third party claiming that the trade secrets belonged to it and that you had no right to reveal them to the receiving party.

8. General Provisions

These miscellaneous provisions (often referred to as “boilerplate”) are often grouped together at the end of an agreement.

Relationships . Most agreements include a provision like this one, disclaiming any relationship other than that defined in the agreement.

Severability . The severability clause provides that if you wind up in a lawsuit over the agreement and a court rules that one part of the agreement is invalid, that part can be cut out and the rest of the agreement will remain valid.

Integration . The integration provision verifies that the version you are signing is the final version and that neither of you can rely on statements made in the past.

Waiver . This provision states that even if you don’t promptly complain about a violation of the NDA, you still have the right to complain about it later.

Injunctive Relief . An injunction is a court order directing a person to do (or stop doing) something. If someone violated your NDA, you would want a court order directing that person to stop using your secrets.

Indemnity . Some NDAs require the receiving party to pay for all damages (lost profits, attorney fees or other expenses) incurred by the other party as a result of the receiving party’s breach of the non-disclosure agreement. This obligation is known as indemnification. Leaving out the indemnity provision does not prevent you from suing and collecting damages for a breach (contract law holds the receiving party responsible for a breach), but the clause makes it easier to claim damages.

Attorney Fees and Expenses. If you don’t include an attorney fees clause in your agreement, a judge may (in most states) order the award of attorney fees in cases where the theft of the trade secret was willful and malicious. It’s up to the judge, which makes things unpredictable. You are far better off using an attorney fees provision. However, don’t be surprised if the other party is opposed to the idea. Why? Because it is the receiving party that is usually sued, not vice-versa, and the receiving party may believe that the provision will encourage you to litigate.

Governing Law . You can choose any state’s laws to govern the agreement, regardless of where you live or where the agreement is signed. Most businesses favor the state where their headquarters are located.

Jurisdiction . The purpose of adding a jurisdiction provision to an NDA is to get each party to consent in advance to jurisdiction in one county or state and to give up the right to sue or be sued anywhere else.

Successors and Assigns . This provision binds any company that acquires either party.

Signing the agreement. Someone with the necessary authority must sign the agreement on behalf of each party. Each party should sign two copies and keep one. This way, both parties have an original signed agreement.

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Confidentiality Statements

Explore the history and impacts of Confidentiality Statements. Understand their use and types with Carepatron’s guidance.

Telita Montales

What is a Confidentiality Statement?

A , also widely known as a Confidentiality Agreement or Non-Disclosure Agreement (NDA), is a legal accord that binds two or more entities together, setting clear terms for sharing specific classified material, information, or knowledge. The central purpose of this agreement is to enable the exchange of sensitive information for certain agreed-upon ends while preventing this information from being disseminated more broadly or used outside the stipulated parameters.

Such statements are pivotal in safeguarding proprietary information or trade secrets, fostering trust within confidential relationships. They meticulously outline what constitutes confidential information, the obligations of the party receiving it, and the duration for which the confidentiality should be maintained.

These agreements are widely employed across various settings, such as between employers and employees, organizations and contractors, or among parties deliberating potential business partnerships. Establishing a clear confidentiality framework ensures that sensitive information is shared responsibly and that privacy is maintained.

Printable Confidentiality Statement

Download this Confidentiality Statement to maintain compliance.

How does it work?

A confidentiality statement springs into action as soon as all parties have duly signed it. This agreement imparts specific obligations and constraints that center around carefully handling confidential information. Here is a detailed, step-by-step breakdown of its workings:

Step 1: Identification of the Parties

The primary step is to identify the parties involved distinctly. This includes disclosing and receiving confidential information. It is vital to denote these parties to avoid any ambiguity or confusion accurately.

Step 2: Defining Confidential Information

In business interactions, not every shared information can be categorized as confidential. As such, the agreement must explain which specific details, data, or knowledge should be treated as confidential.

Step 3: Understanding the Scope of Confidentiality

The agreement should also elaborate on the allowed usage of confidential information, defining the scope of confidentiality. This section offers instructions on how the receiving party should use the information.

Step 4: Stating the Duration

The confidentiality statement must indicate the timeframe during which the information needs to be kept confidential. This duration varies based on the nature of the information and the agreement between the parties.

Step 5: Signatures and Dates

All parties involved should sign and date the document to ensure the agreement is legally binding. This affirms their consent to the terms and conditions specified within the agreement.

To help you understand better, we have a Printable Confidentiality Statements for you to test.

Confidentiality Statement Example (sample)

Confidentiality statements are versatile documents crafted to meet the specific needs of the context in which they are used. Consequently, the structure and content of these agreements can vary significantly. For instance, a confidentiality statement for non-profit volunteers would look distinctly different from one used in a professional business setting, each reflecting the unique requirements of their respective environments.

It's also worth noting that a well-structured confidentiality statement often contains clauses regarding intellectual property and confidentiality, which can be found in the document's footer, establishing clear parameters for using proprietary information.

We've prepared a sample Confidentiality Statement PDF for you to provide a more tangible understanding of how these documents are typically constructed. This example illustrates the format and language commonly used in such agreements and can serve as a useful starting point when creating your confidentiality statement.

Download this Confidentiality Statement Example:

Confidentiality Statement Example (sample)

When would you use this Template?

Confidentiality statements play a significant role in various scenarios where confidential or sensitive information needs to be shared. They act as a protective shield when you're disseminating information that isn't widely known and where unauthorized or inadvertent disclosure could adversely impact your interests. Some common circumstances that warrant the use of a confidentiality statement include:

Engaging in Business Negotiations

A confidentiality statement becomes crucial when initiating discussions about potential business relationships or partnerships. It ensures that the sensitive information shared during these explorations, including trade secrets or business strategies, is not misused or disclosed without authorization.

Safeguarding Intellectual Property Rights

Protecting your intellectual property rights is essential if your venture involves unique products or services. A confidentiality statement assures that your proprietary information will not be copied or shared without your consent.

Onboarding Employees

When hiring employees with access to sensitive business information, a confidentiality statement ensures that they understand the significance of this information and the need to maintain its confidentiality, even after their employment ends.

Collaborating with External Entities

If your work involves collaboration with external agencies, consultants, or contractors, using a confidentiality statement ensures that they know their obligations regarding the sensitive information they may encounter during their service.

Involving Volunteers in Non-Profit Organizations

Non-profit organizations often engage volunteers who may have access to sensitive information, such as donor details or internal operational data. A confidentiality statement tailored for non-profit volunteers establishes the parameters for handling such information and helps protect the organization's interests.

A confidentiality statement is a versatile document that serves an essential function in many contexts. It is a robust legal tool to protect sensitive information from unauthorized or inappropriate disclosure.

Protects Sensitive Information

A confidentiality statement helps protect your proprietary information from unauthorized disclosure.

Creates Legal Recourse

The agreement provides a legal pathway for seeking damages if confidentiality is breached.

Promotes Open Communication

The assurance of confidentiality promotes a more open and honest dialogue between parties.

Defines Boundaries

It clearly outlines what information is private and how it should be handled.

Sets Time Frames

The statement defines the period during which the information must be kept confidential.

You can download a Free Confidentiality statement here on Carepatron.

Why use Carepatron as your Confidentiality tracking app?

Carepatron, with its user-centric design and feature-rich platform, stands as a reliable solution for creating, disseminating, and managing your confidentiality statements. Our platform is thoughtfully designed to cater to diverse business needs, offering you a suite of tools to maintain and secure your sensitive information efficiently.

What sets Carepatron apart is its advanced Confidentiality Statement software. This high-tech application ensures adherence to all the legal stipulations associated with using and managing confidential information.

The software's robust tracking mechanism allows for seamless monitoring of the lifecycle of each confidentiality statement, from creation through expiration. This way, you can always stay on top of your confidentiality obligations and ensure your business is legally protected.

In addition, Carepatron's intuitive interface makes managing confidentiality statements hassle-free. Even those with limited technical skills can easily navigate the platform, allowing all stakeholders to engage effectively with the confidentiality measures in place.

Lastly, we understand the ever-evolving landscape of data protection and confidentiality, and therefore, we consistently update and enhance our software to meet the latest standards and regulations.

Carepatron’s Confidentiality Statement app provides a secure, reliable, and easy-to-use platform that is a one-stop solution for all your confidentiality statement needs.

Electronic Health Records Software

  • https://clasbc.net/wp-content/uploads/2022/09/NDA-Quick-Facts-.pdf  
  • https://www.sine.co/blog/nda/   ‍
  • https://www.investopedia.com/terms/n/nda.asp

Commonly asked questions

Anyone who wants to protect sensitive information uses the confidentiality statement. This can include businesses, non-profits, consultants, volunteers, and more.

A confidentiality statement is used when you need to share sensitive information with another party and want to prevent unauthorized disclosure of that information.

The confidentiality statement defines what information is confidential, outlines the parties' obligations, and provides legal recourse in case of a breach.

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  • Confidentiality Clause

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Contract Clauses

  • Acceleration Clause
  • Arbitration Clause
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  • Consideration Clause
  • Definitions Clause
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  • Entire Agreement Clause
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  • Exclusivity Clause
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Confidentiality clause defined.

Confidentiality clauses, also known as non-disclosure agreements, prevent the signing party from divulging sensitive information, personally identifiable information (PII), and trade secrets. These protections are for documents as well as verbal communications. Parties can negotiate the terms of the confidentiality clause according to scope and obligations as necessary.

This article also defines confidentiality clauses.

Confidentiality Explained

You can create one-sided or mutual confidentiality clauses. One-sided confidentiality clauses limit one party from disclosing any information about the other. In a mutual confidentiality clause, both parties must not reveal specific information about each other.

Here is another article that explains confidentiality clauses.

Purpose of a Confidentiality Clause

The purpose of a confidentiality clause is to protect a company from the disclosure of their trade secrets and sensitive information. For personal information to stay that way, there needs to be a confidentiality clause for documents and for email communications.

Regardless of the methods of communication, industry, or position, a confidentiality clause protects companies if they need to file a damages claim against someone who disclosed critical details to someone, whether they planned to exploit the information or not.

Confidentiality Clause Examples

Examples of confidentiality clauses include:

  • Example 1: Preventing employees from talking to the press
  • Example 2: Limiting the disclosure of on-site business practices
  • Example 3: Stopping business partners from sharing IP rights
  • Example 4: Agencies preventing models from divulging their strategies
  • Example 5: Protecting a company when working with contractors

Confidentiality Clause Samples

Sample 1 – Employment Contract :

Confidential Information .

  • Employee shall not, during the term of this Agreement or at any time thereafter, make unauthorized use of, or divulge to any other person or entity Company's trade secrets, confidential or other information as is described in Article 4, Section B, without prior written permission from Company's President. This Confidentiality Covenant shall apply to, but shall not be limited to all information protected under the Georgia Trade Secrets Act of 1990, and, in addition thereto, to all information described in Section B of this Paragraph and the protections provided to the Company under this Agreement shall be in addition to and not in lieu of the protections afforded under said Act.
  • At all times during the term of this Agreement, and after its termination Employee shall take all reasonable precautions to protect the integrity of and shall refrain from any use or divulgence of Company's confidential information and trade secrets including, but not limited to: all files, tickler files, resource information, rolodex, records, documents, drawings, specifications, equipment, customer lists, supplier lists or information, product, supplier or customer catalogues, and similar items relating to the business of Company, or copies thereof, whether the originals or copies were prepared by Employee or otherwise came into Employee's possession.
  • The confidential information and trade secrets described above shall remain the exclusive property of Company and shall not be removed from the premises of Company under any circumstances whatsoever without the express prior written consent of Company.
  • If Employee breaches or threatens to breach this Article 4, Company shall be entitled to obtain injunctive relief containing such mandatory or prohibitory clauses as are necessary to prevent the continued breach of this covenant of confidentiality. Company shall also be entitled to any other remedies provided under this contract or at law. If Company elects to enforce this Paragraph through a court of law of appropriate jurisdiction, Employee shall be liable for payment of all court costs, attorney’s fees, and necessary expenditures, which Company incurs.

Reference :

Security Exchange Commission - Edgar Database, EX-10.6  3 ubi_ex10z6.htm EMPLOYMENT CONTRACT, Viewed April 5, 2021, < https://www.sec.gov/Archives/edgar/data/1320729/000137647415000176/ubi_ex10z6.htm >.

Sample 2 – Sale and Purchase Agreement :

Confidentiality . From and after the Closing Date, for a period of three (3) years after the Closing Date, Seller agrees and agrees to cause the Selling Affiliate, to treat all confidential data, reports, records, processes, know-how and other information it has developed or has in its control or possession relating to the Business, whether or not marked as confidential or proprietary (the “Information”), as confidential and to not disclose, discuss or reveal such Information to a third party without the prior written consent of Purchaser, unless Seller or the Selling Affiliate are required by applicable Law or order of a Government Authority to disclose any such Information and Seller or Selling Affiliate have informed Purchaser of such requirement and given Purchaser a reasonable opportunity to contest such requirement or to seek a protective order or a stay of such disclosure order. Seller agrees to exercise all reasonable efforts to avoid the disclosure of such Information to any third party. The obligations in this Section 7.08 shall not apply to any portion of the Information:

(a) which is or becomes, through no act or failure on Seller’s or the Selling Affiliate’s part, published information known on a non-confidential basis; or

(b) which corresponds in substance to information hereafter furnished to Seller or the Selling Affiliate by others as a matter of right without restriction on disclosure; or

(c) which is independently developed by or on behalf of Seller or the Selling Affiliate, without knowledge of the Information.

Security Exchange Commission - Edgar Database, EX-10.(I) 4 d230919dex10i.htm SALE AND PURCHASE AGREEMENT , Viewed April 5, 2021, < https://www.sec.gov/Archives/edgar/data/16040/000119312511324512/d230919dex10i.htm >.

Sample 3 – Master Sale Agreement :

Security Exchange Commission - Edgar Database, EX-10.33 5 dex1033.htm MASTER SALES AGREEMENT , Viewed April 5, 2021, < https://www.sec.gov/Archives/edgar/data/1350415/000119312506131362/dex1033.htm >.

Common Contracts with Confidentiality Clauses

Common contracts with confidentiality clauses include:

  • Employment agreements
  • Purchase agreements
  • Business associate agreements
  • Client services agreements
  • Letters of representation

Confidentiality Clause FAQs

Confidentiality clauses carry legal implications for employees and employers alike. Avoid making legal mistakes. Check out the confidentiality clause FAQs below to learn more.

Are confidentiality clauses enforceable?

Confidentiality clauses are enforceable as long as they meet the elements of a contract. Exceptions to a waiver may apply. For instance, companies can’t enforce confidentiality clauses to protect public policy violations from discovery.

What should be in a confidentiality clause?

Confidentiality clauses can be as long or as short as necessary. A confidentiality clause should contain the following elements at a minimum to be enforceable:

  • An agreement is made
  • The other party accepts the agreement
  • Both parties exchange consideration

You should also have parties sign and date the agreement. Speak with employment lawyers to help you draft, negotiate, and execute the legal particulars of a confidentiality clause.

example of confidentiality statement for business plan

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Business Zeal

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Confidentiality Statement Example

Individuals and organizations prepare a confidentiality statement to safeguard their sensitive information. A confidentiality statement acts as legal binding between two or more parties who have partnered with each other. In this article, we have provided few examples of confidentiality statement.

Confidentiality Statement Example

Confidentiality statements, also known as non-disclosure agreements, are contracts which are prepared to safeguard the interests of an individual/company. These agreements ensure the protection of sensitive information.

Confidentiality agreements are used by individuals and entrepreneurs across the globe to protect sensitive information, such as inventions, business strategy, client database, compensation reports, etc. In case a company suffers loss or damage due to a breach of confidentiality agreement, it has the right to seek injunctive and claim compensation from the party who has breached the agreement.

Sample Confidentiality Agreement

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12+ Business Confidentiality Agreement Templates – Free Sample, Example Format Download

In a business organization, there exist a lot of secrets which could be the formulae for developing their products, details of the employees, various strategies for the betterment of the business etc. Most of the people who come in contact with the organization may have some idea about this. You may also see agreement templates .

example of confidentiality statement for business plan

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Business Agreement Template Bundle

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Business Confidentiality Agreement

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Business Financial Confidentiality Agreement

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Business Meeting Confidentiality Agreement Template

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Restaurant Confidentiality Agreement Template

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Example Financial Business Confidentiality Agreement

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Sample Mutual Business Confidentiality Agreement

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  • Word (2003 or Higher)

Generic Example Business Confidentiality Agreement

generic example business confidentiality agreement

Sample Business Confidentiality Unilateral Agreement

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Example Business Confidentiality Agreement Form

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Business Plan Sample Confidentiality Agreement

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Example Business Non Disclosure Confidentiality Agreement

example business non disclosure confidentiality agreement

Sample Business Contract Disclosure Agreement

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Example Precedent Business Confidentiality Agreement

example precedent business confidentiality agreement

> Uses of Business Confidentiality Agreement

  • For the employees to safeguard the company secrets
  • For the financial institutions to protect the financial details of a company
  • For vendors to ensure certain company information is safe
  • For two or more parties planning to merge their business

> Benefits of Business Confidentiality Agreement

  • It can be drafted as per the requirement and preference of the business organization
  • The agreement spells out all the information clearly, thus ensuring that there is no confusion as to what is considered confidential
  • It warns the signing party about the consequences in case there is a breach of the agreement
  • Considered to be a valid proof in the court of law, it can be helpful in case of a dispute

> How to Draft a Business Confidentiality Agreement

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IMAGES

  1. 24 Simple Confidentiality Statement & Agreement Templates

    example of confidentiality statement for business plan

  2. 24 Simple Confidentiality Statement & Agreement Templates ᐅ

    example of confidentiality statement for business plan

  3. 24 Simple Confidentiality Statement & Agreement Templates ᐅ

    example of confidentiality statement for business plan

  4. Business Plan Confidentiality Agreement

    example of confidentiality statement for business plan

  5. 12+ Business Confidentiality Agreement Templates

    example of confidentiality statement for business plan

  6. 24 Simple Confidentiality Statement & Agreement Templates ᐅ

    example of confidentiality statement for business plan

VIDEO

  1. Mission Statement

  2. Confidentiality Example Mr R

COMMENTS

  1. How To Write a Business Plan Confidentiality Statement

    December 12, 2023 7 Min Read Every company has a unique identity that sets it apart from its rival companies in the industry. It is a combination of various aspects: The way you set your goals, your marketing strategy, your manufacturing process, or your entire business plan.

  2. Sample Business Plan Confidentiality Agreement

    Business Plan Confidentiality Agreement: The undersigned reader of [Company's Name] Business Plan hereby acknowledges that the information provided is completely confidential and therefore the reader agrees not to disclose anything found in the business plan without the express written consent of [Business Owner's Name].

  3. Business Plan Confidentiality Statement

    Here are a few examples of business plan confidentiality statements that you can use as references or templates for drafting your own business plan confidentiality agreement: Simple Business Plan Confidentiality Statement: "This business plan and the information contained herein are confidential and proprietary to [Company Name].

  4. How to Write a Business Plan Confidentiality Agreement

    For example, if the agreement is between two companies, the CEO of the company may be able to sign for her entire company, but the agreement should also specify that all employees of the company who have access to the information are bound by its provisions.

  5. 24 Simple Confidentiality Statement & Agreement Templates

    If you are planning to write a confidentiality agreement template, you need to look at some confidentiality statement examples or an email confidentiality statement to be sure that the formatting of this letter is correct.

  6. 16 Basic Confidentiality Statement Examples [Free Templates]

    For example: If an employee will be able to access any confidential information and their employer would like for such information to be kept confidential, they may state the reason for using the confidential information in this clause. Confidential information The confidential information clause should define what is meant to be kept confidential.

  7. Sample Confidentiality Agreement (NDA)

    An example of a basic confidentiality agreement is provided below. It can serve as a starting point for your own NDA. For an NDA that's customized to your business and situation, you can use our Nondisclosure (Confidentiality) Agreement form.

  8. Business Confidentiality Statement

    Considerations There are some considerations that need to be made before deciding to use a confidentiality agreement. The first is that your confidentiality agreement is not only protecting an invention, but it also should be used to protect: Business ideas. Strategies. Marketing.

  9. PDF BUSINESS PLAN NON-DISCLOSURE AGREEMENT & GUIDE

    Dos & Don'ts Checklist Creating a non-disclosure agreement is the first of many steps in maintaining and protecting your organization's business plan and other confidential information. The following tips will provide additional guidance about protecting your company: Protecting proprietary information should be the rule and not the exception.

  10. Business Plan Non-Disclosure Agreement (NDA)

    Business plans are highly confidential, especially detailing a marketing strategy with a different approach to a specific market. An NDA makes the shared party liable if the plan is used for anyone else's personal benefit. PDF Word ODT Create Document 4.8 Stars | 75 Ratings 1,018 Downloads

  11. Download Free Business Plan Confidentiality Statement (NDA) Templates

    Confidentiality Statement Templates Download and use this templates to write confidentiality agreements for your business plan readers First Name * Last Name * * We care about your privacy. See our Privacy Policy Free Checklist Download And Start Using This Template For:

  12. Business Plan Non-Disclosure Agreement (NDA)

    Fill Now Download PDF (282.57 KB) Download Word (22.29 KB) The business plan non-disclosure agreement is intended for use when sharing a business plan with consultants, investors, contractors, potential employees, and anyone else evaluating your planned enterprise. Regardless of the size or complexity of your plan, it is likely to include ...

  13. 21 Basic Confidentiality Agreement Examples (Free Templates)

    This confidentiality agreement expresses the complete understanding of both parties concerning the subject matter of this Agreement and supersedes any prior agreements, proposals, understandings, and representations. This Agreement shall not be amended in any way except with the written consent of both parties. Waiver.

  14. Business Confidentiality Agreement Template

    Additionally, a business confidentiality agreement form "enables you to provide access to proprietary information belonging to a different individual or group, and you wish to make clear that the phrases under agreement is covered by a proper non-disclosure agreement."

  15. Confidentiality Agreements: A Must-Have For Business Plans

    A confidentiality agreement is exactly what it sounds like. In simple terms, it is a document stating that the person you disclose your business plan to will not disclose any of its contents to ...

  16. What Is A Confidentiality Agreement?

    A confidentiality agreement is a contract between two or more parties regulating the treatment of specified private information. While these agreements can exist in a variety of contexts, they are ...

  17. Confidentiality Statement & Example

    Confidentiality Statement Example (sample) Confidentiality statements are versatile documents crafted to meet the specific needs of the context in which they are used. ... When hiring employees with access to sensitive business information, a confidentiality statement ensures that they understand the significance of this information and the ...

  18. Confidentiality Clause: Meaning & Samples (2022)

    Example 1: Preventing employees from talking to the press Example 2: Limiting the disclosure of on-site business practices Example 3: Stopping business partners from sharing IP rights Example 4: Agencies preventing models from divulging their strategies Example 5: Protecting a company when working with contractors Confidentiality Clause Samples

  19. Confidentiality Statement Example

    In this article, we have provided few examples of confidentiality statement. Confidentiality statements, also known as non-disclosure agreements, are contracts which are prepared to safeguard the interests of an individual/company. These agreements ensure the protection of sensitive information.

  20. 12+ Business Confidentiality Agreement Templates

    Size: 39.9 KB. Download Now. Most of the employees who work in an organization are privy to some of their important secrets which would otherwise be hidden from the outside world. These employees are expected to sign a business confidentiality agreement to ensure that the safe keep of the company secrets.

  21. Free Confidentiality Agreement

    A Confidentiality Agreement is often used in the workplace or during business negotiations that involve the disclosure of commercially sensitive information, such as:. When an employee or contractor gains access to new information not covered in the original contracts with their employer or client; When an employer gives a salary raise, bonus checks, or other compensation packages that they ...

  22. Employee Confidentiality Policy Template

    This sample Employee Confidentiality Policy template is ready to be tailored to your company's needs and should be considered a starting point for setting up your employment policies.. The confidentiality policy should include: Definitions and examples of what constitutes confidential information, such as unpublished financial data, customer lists, and proprietary business processes

  23. Confidentiality Statement Examples Business Plan

    They are intended to provide protection for both parties involved in a business plan or transaction. Confidentiality Statement Example For A Business Plan And Confidentiality Statement Sample For Fax Cover Sheet. Download our normal template if you are searching for a detailed agreement which can be applied to a wide variety of situations.