5 Essential Elements of Perfect Mutual Confidentiality Agreement
Every trade and every businessman has their trade secrets which sometimes need to be shared with their business partners for growth & development. As this is a common business practice, drafting a mutual confidentiality agreement has become part of the routine. But what does a perfect mutual confidentiality agreement consists of? We’ll be discussing those 5 key elements of a mutual confidentiality agreement that makes them rock-solid. Contents Parties to the mutual confidential agreement Definition of the mutual confidential agreement Obligations and the horizon of the agreement Terms of the confidentiality agreement Consequences in case of breach of the agreement Parties to the mutual confidentiality agreement A perfect mutual confidentiality agreement identifies all the parties to the mutual confidentiality agreement. While the same is quite simple when the mutual confidentiality agreement is between two or more individuals. However, when the same agreement takes place withi...