Should We Seek Balancing In An NDA?

Like all other commercial contracts, it is advisable that a Non-Disclosure Agreement be a balanced one, taking into consideration interests and benefits of both parties.

Preparing a balanced NDA involves careful consideration of the interests of both parties. Some key elements to ensure this are as under:

Introduction: NDA should begin with the date and the names and addresses of the parties.

Define Confidential Information meticulously. Clearly define what constitutes confidential information. This may include data, trade secrets, business strategies, etc. depending on the subject matter.

Exclusions: Specify what information is not considered confidential. Typical examples could be information already known to the receiving party, information in the public domain, or information independently developed by the receiving party.