Confidentiality Agreement (NDA)
What is a confidentiality agreement?
Confidentiality agreement: A confidentiality agreement (also known as a Non-Disclosure Agreement or NDA) is a legally binding document between two parties preventing the disclosure of shared information with any third party.
Confidentiality between you and Innovate
Innovate's confidentiality agreement can be downloaded from our website or will be sent out in the Information Pack.
This is a legally binding document prohibiting us from disclosing any information you share with us to any third party.
There are 2 copies: one to be sent to us and one to be kept by yourself.
There is a time limit of 15 years from signing the agreement, after which the agreement terminates.
Should there ever be any dispute over the confidentiality of a product, this agreement can be used in a legal setting, if needed.
Confidentiality between you and other companies
Before speaking to any company about your idea, we would strongly recommend using a confidentiality agreement.
We would not recommend talking to any potential licensees or manufacturers prior to protecting your product, where applicable, as this could potentially jeopardise your protection being granted – this is particularly the case with patenting.
Even once your product is protected it is good business practice, where possible, to use a confidentiality agreement when disclosing detail of your product to a company. This is not always possible but should be remembered. An example NDA can be provided by Innovate.
The use of an NDA is also a requirement for those companies complying to the British Standard 8538:2011.
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© Innovate Design 2011 | Confidentiality Agreements, also known as Non-Disclosure Agreements (NDA)