Confidentiality contracts are legal documents that are made and entered by two or more parties who promise to keep certain piece of information confidential or secret. Generally, these types of contracts are made when two companies exchange information regarding a new product or service.
A Confidentiality contract works as a safety measure that ensures the security of one party from the other. If one of the two parties discloses any information or breaks the contract, then it can be forced to face legal implications. These non disclosure contracts contain the terms and conditions which are obligatory and compulsory for both the parties to follow throughout the length of the contract.
The following are a few examples of confidentiality contracts:
- Business confidentiality contract
- Property confidentiality contract
- Government confidentiality contract
These contracts are legal and formal in nature hence they must be written in a professional manner with a tone of formality. They must be detailed so that there is no scope left for any future disputes. The exact date and period of the contract should be put in carefully. One of the most important parts of confidentiality contracts is the detail of the non disclosed information. The violation of the confidentiality contract can lead to legal action as well.