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A Non-Disclosure Agreement, also called a Confidentiality Agreement, is a legal contract between two or more parties by which the parties agree not to disclose information (which is intended to be kept secret) that they have shared with each other during a business relationship.
This Agreement may either be one-way (unilateral) or two-way (mutual), depending on whether both parties will be providing the secret information. If only one party will be providing the secret information to the other, it is called a Unilateral Non-Disclosure Agreement. For example, where an inventor of an idea is sharing the idea with another person, the inventor is the disclosing party and the other party is the receiving party. If the two parties will share the secret information between theselves, it is called a Mutual Non-Disclosure Agreement.
This Agreement outlines confidential information or materials the parties wish to share with one another but restricts its use and access by third parties.
This Agreement can be used to share intellectual property, share commercial trading information or formalize a business relationship, for example, between an employer and an employee.
How to use this document
This document can be used by registered entities or individuals who intend to disclose certain information that should be kept secret and restrict the use or disclosure of such information. For example, this can be used in an employment relationship or for business transactions that creates business relationships between parties.
After filling this form, the parties to this Agreement should sign the document and each party should keep an original copy for their record.
If any of the parties is a Nigerian Company, the common seal of the company must be placed on the document and two directors or one director and secretary must sign the document. Where either of the parties is a registered entity other than a Nigerian Company, officers of the registered entity must sign the document after their names have been filled. These officers are managing directors, directors or any person in a position to make critical decision on behalf of the registered entity.
The general rules of contract and confidentiality applies to this Agreement.
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