Intellectual Property

Confidentiality Agreements (NDA's)

Many clients have come to the 2020 Law Group requesting the review or preparation of confidentiality agreements relating to an idea, business strategy, business sale or acquisition, or invention that they have developed or are about to be presented with.

There are always two competing issues in these agreements. The concern of the disclosing party is assurance that what is being disclosed is not to be used by the receiving party for its own benefit. The receiving party, on the other hand, wants to know that in signing the agreement, it won't be prevented from continuing its work and subsequent release on projects that are in the developmental stage. With these competing issues, in many cases, businesses that are to receive the confidential information elect to either not sign the agreements or ask the disclosing party to sign a "disclosure" agreement; and disclosing parties either take a chance that the receiving party will not take advantage of them or will walk away from an opportunity due to their fear that their idea will be scooped without any reward for their efforts.

The 2020 Law Group has taken the time to analyze this situation and has come up with a contract strategy to address these issues so that willing parties can have the confidence that fair discussions can take place between them without harming their respective future business opportunities should an agreement relating to the use of the confidential information fail to be reached.

If you require a confidentiality agreement prepared or reviewed, or wish to learn more about the strategy employed by the 2020 Law Group, please feel free to call us at (403) 730-2020.