A reciprocal confidentiality agreement could also be known as a two way confidentiality agreement. This agreement is to be used if there are two parties in a business deal that must disclose private information to each other. Our reciprocal confidentiality agreement is written in a clear fashion so the template will be easy you use. You will be able to enter the information quickly and customise it if there is a need to.
We have all of the documents drafted by a solicitor and the reciprocal confidentiality agreement is no different. You will find that although a solicitor has drafted the reciprocal confidentiality template agreement it is still concise and easy to follow. It is reliable and comprehensive so you can have peace of mind when you use it of its legal validity. Since you can reuse this document as many times as you need to the price of the reciprocal confidentiality agreement is very cost effective. You can rest assured that both parties will be protected when using this reciprocal confidentiality agreement.
The main purpose of this agreement is to protect two or more parties for discussing or releasing confidential information to other parties without the written consent of the disclosing party or parties. This agreement works well for two or more parties to enter into a commercial venture with a manufacturer or business where information must be shared in order to complete the enterprise.
This two way confidentiality agreement is specifically designed to protect any exchange of information in conjunction with an idea, invention, business plan or product. If any of the parties involved don’t honour this agreement after it is signed then the injured party has some recourse to pursue damages.
Sometimes the more formal reciprocal confidentiality agreement is daunting to one of the parties about to exchange information. In this case, the confidentiality letter could work as well. It is a shorter, less formal agreement because it is written in the style of a letter. After this is signed both parties may realise that the reciprocal confidentiality agreement is the next logical step.
An example of a time where a reciprocal confidentiality agreement might be used is if you already have a product developed with a patent that another company wishes to licence from you. They want to have your permission to sell the same product. By signing a reciprocal agreement both parties will benefit because the new company can now sell the product, but they can’t disclose any information about the product. So the signing of the reciprocal confidentiality agreement helps both parties.
In this example, you can understand that both parties feel the need to have a reciprocal confidentiality agreement. It is the most important to the initial developer of the idea to have it protected so this agreement will provide that. By having a two way confidentiality agreement in place, you also have some weight in a court of law should it come to that. All of the confidentiality letters and agreements are easy to use and provide great value to you. Look through our web pages to find the right one or subscribe to access all of these documents.