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Why do I need a Confidentiality Agreement (aka NDA)?
If you need to share your great idea with others but don’t want it to go any further, or you’re starting negotiations with a buyer for your business and want them to keep your financials to themselves, you need a Confidentiality Agreement.
Our Mutual Confidentiality Agreement protects the mutual exchange of confidential information between two businesses or people. It can be used for trade secrets, business plans and strategies, finances, designs, drawings, processes, customer or supplier details or information, or other commercially sensitive information (that isn’t publicly available).
What’s in a Confidentiality Agreement?
NZ lawyers have designed this agreement for use by NZ businesses. It is simple (only two pages!), easy to understand, without legalese, and fair to both sides, reducing negotiation time and keeping the relationship positive.
The agreement restricts the businesses (or people) receiving confidential info from sharing it with anyone else. The information shared must be kept secret for four years, or until the date the information is no longer confidential (because it has become public knowledge).
How long will it take to create my document?
Under 5 minutes – faster than making a coffee!
What information do I need to complete the Q&A?
- The name and contact details of both parties (including registered business numbers (if any))
- The reason the confidential information is being shared
What if I need help?
On Your Terms has teamed up with Luminate Legal to offer its customers the option of obtaining legal advice from a lawyer to provide extra assurance and peace of mind. If you would like to ask a lawyer some quick questions about your document (or your responses to the Q&A), or have your document reviewed/edited by a lawyer, click here to view and select Luminate Legal's packages and fixed-fee pricing exclusively for On Your Terms customers.
What do I do once my document is created?
The agreement is ready to sign as soon as you download it. To be legally enforceable, it must be signed by both parties, so make sure you get signed early on (ideally before any info is exchanged), even if you’re just in the early stages of discussions.
Other names for a Mutual Confidentiality Agreement:
- Non-Disclosure Agreement or NDA
- Secrecy Agreement
- Gag Order
- Confidentiality Deed
Other helpful information:
- This is a ‘mutual’ confidentiality agreement, where two businesses or people share confidential information with each other and agree not to share it with anyone else. If only one party is sharing confidential information, you need our One-Way Confidentiality Agreement.
- Check out these blogs: When a Confidentiality Agreement is your best friend, Who can sign legal documents in New Zealand?
- You may also find these bundles or documents useful for your business: Term Sheet for Project, Services Agreement and Independent Contractor Agreement
- Check out our FAQs here
If you’re unsure whether this agreement is what you need, reach out to us at hello@onyourterms.co.nz – we’re happy to help!
Disclaimer: On Your Terms was created to provide fast, easy and affordable access to legal information and documentation. We are not a law firm and do not provide legal advice. The information and documents we provide are of a general nature, designed for common situations, and may not be suitable for your needs or circumstances. If you need legal advice, we have a network of specialist law firm partners able to help you here.