The only thing any business owner in Georgia wants is for his or her company to be successful. One way to help achieve that goal is by using contracts. One contact in particular, the nondisclosure agreement, can be used to protect information business owners would like to keep private. What should one include in an NDA?
An NDA is a contract that business owners can use when taking on partners, when discussing potential joint ventures and when hiring employees. The purpose of an NDA is to prevent company business and secrets from being released to the public or used in a way that would negatively affect the company. However, as with all contracts, one must be careful as a poorly written NDA is essentially useless.
NDAs are customizable, so they can be written to one’s exact specifications. There are several key issues that they should address, however. Items considered essential in NDAs include:
- Names of all parties
- Time limit
- Specifics of the confidential information
- Miscellaneous provisions
- Exclusions
- Appropriate times to divulge protected information
The last thing any business owner wants is for company secrets to be used against the business. By utilizing nondisclosure agreements, owners can make sure any information they want to keep private is kept private. Drafting an NDA that is legally binding and will hold up in a Georgia civil court is not an easy task and not something business owners may want to do on their own. An experienced business law attorney can help create NDAs that address one’s specific needs and offer all the protections desired.