How Important Is A Non-Disclosure Agreement?



One of the most important documents that an individual or company can have in their business toolkit is a non-disclosure agreement (NDA). NDAs can be used with third parties or employees to keep proprietary information safe and sound. An NDA is a legally binding document that requires the parties who signed the contract to not disclose anything that was discussed or worked on that is covered by the agreement.

NDAs are often used by companies and individuals to protect confidential information or trade secret information. Inventors can use them to keep their invention ideas confidential if their patent application has not yet been published, or a company use an NDA to keep workers and contractors from using or disclosing proprietary company secrets.

The Value of NDAs

Businesses are successful because they have a competitive advantage over their competitors. Their product might be superior due to proprietary technology, or a secret process for making the product, and if that information got out to their competitors, the company would lose their edge in the market place. NDAs are a great tool for protecting businesses from exposure. NDAs provide protection by clearly identifying the parties to the agreement, the terms of the agreement, and the confidential information that is not to be disclosed to anyone else.

Additionally, the agreement can specify how long that information contained in the NDA is to be kept confidential. Once an NDA is prepared, it is not very difficult to use the NDA as a template agreement – changing out the names or other terms as needed. If a party violates an NDA agreement, the other party has legal recourse by which to obtain damages for their losses associated with the breach of the NDA agreement. In some cases, it might be enough to simply request that the court

If a party violates an NDA agreement, the other party has legal recourse by which to obtain damages for their losses associated with the breach of the NDA agreement. In some cases, it might be enough to simply request that the court grant an injunction or order prohibiting the party who is in breach to cease their actions that are in breach of the NDA.

If you have any questions about or need assistance preparing a non-disclosure agreement, please contact Parsons & Goltry online, or by calling 480-991-3435. Our attorneys are prepared to assist you today.


Client Approved

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"Our company has worked with a number of patent attorneys and were so pleased when we began working with Parsons & Goltry nearly a decade ago. Mike Goltry's knowledge and attention to detail has enabled us to have numerous products patented and trademarks registered. We highly recommend this Law Firm."

- Sharon K.

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"Michael Goltry is the most professional, honest and effective patent attorney whom I ever met in my 40 year professional engineering career. I started to work with him over 20 years ago and plan to work indefinitely."

- Zoltan Kemeny, PhD, Struct. Eng.

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"Mr. Goltry took a provisional patent that we'd filed ourselves, and quickly and professionally turned our innovation into U.S. and foreign applications. His [patent claims] were a thing of beauty, and I was amazed by how deftly he countered the inevitable office actions. His language held up, and the U.S. Patent just issued. He was easy and efficient to work with, and his fees were remarkably reasonable. We're not planning to go anywhere else, ever."

- Ski Milburn, CEO, Victori, LLC

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"I applied for a patent through Parsons & Goltry. After being on the docket for 2 years at the USPTO, I received notification that my patent request had been denied. Michael Goltry contacted me immediately to review my options. After I informed him of my decision to move forward, he filed a response to the USPTO. In his response he got the examiner to fully understand the claims in the patent application and the "denied" decision was reversed. I was able to secure and receive a "patent granted" decision. Thank you, Michael Goltry."

- Kathy H., Inventor

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Phone: (480) 991-3435

Our office is located in Scottsdale, Arizona, but we service clients throughout the United States and Internationally.

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