Crash Course on Non-Disclosure Agreements (‘NDAs’)
Do you know what Non-Disclosure Agreement is? A Non-Disclosure Agreement is a legal contract made between two or more parties that contract forms as a confidential relationship. The contract made between the party or parties signed it as an agreement and they promised not to share the sensitive informations they get with anyone else. Keep reading and know more about NDAs!
Mainly the purpose of non-disclosure agreement is to protect or secure any kind of information related to proprietary or trade secrets. Non-Disclosure Agreement policy also help to secure any intellectual properties, any parties rights including databases, client lists etc. There are 3 types of non-disclosure agreements. The first one is Unilateral NDA, Bilateral NDA, and Multilateral NDA. Unilateral NDA occurs between two parties and one party involved in this agreement shares sensitive informations and the other party was expected not to disclose any information with others. Bilateral NDA also involves two parties and both these two parties share their confidential or sensitive informations with each other and try to protect the informations from other parties. Multilateral NDA involves three or more parties and in this NDA only one party disclose their confidential information, another two parties agreed to protect or secure those information from any other disclosures. You can break a Non-Disclosure Agreement under mutual consent. The receipt cannot disclose any secret or confidential information before anyone else.
Various online Crash Course facilities are there. You can take NDA online coaching classes. After completing the written exam the applicants who are selected were called for Services Selection Board interview. For taking the NDA training you have to go through various intelligence tests, personality test etc. Recently Dehradun Defence Academy has arranged for NDA Crash Course coaching for the exam which will be held on September 2020. A complete curriculum for the syllabus of NDA has been designed by them. Many other institutes are there among these Cavalier Academy new Delhi also provide best coaching facilities for NDA written exams.
How to Write or Draft a Non-Disclosure Agreement?
While entering into such type of agreement, the parties take a mutual decision and agreed to maintain that. So before taking your decision identify the trade secrets or confidential informations. Secure confidential informations before signing an NDA. Think whether you need to distribute sensitive informations. Now coming to the terms of the NDA maintain these following things: First title the document and give a standard introduction. Clearly mention the confidential informations. Discuss all the matters you want to be covered by the agreement. Some information types that could be kept confidential are financial information, technical information, tools and system specifications, business strategies, test results, customer and vender lists etc. Don’t include non-confidential informations. Add obligations of the receiving parties. Write down and make a list of conditions that will let the party to disclose information. Set a time period for the final disclosure of the informations. Create a time-span for confidentiality. These are some norms you should maintain.
Law on Non-Disclosure Agreement!
Under Indian Contract Act, 1872 a Non Disclosure Agreement is governed and treated as a legally binding contract. In case anyone breaks the contract of a Non-Disclosure Agreement, they will be charged and they required providing the financial damages and costs related to it. May they were not penalized directly but they can be sued for the breach of contract. After violating NDA you won’t be going to jail but you’re supposed to give the specified amount of money.
There are 10 clauses supposed to have in any NDAs. The clauses are: Definition of your confidential information, the parties, The norms or terms and time-period and duration, The permitted use of the information, Legal obligations to Disclose, Return of the Information, The jurisdiction, The acceptable remedies, Responsibility related to legal fees and last but not the least there were the non-binding clause.
