Non-Disclosure Agreements In Calgary, Alberta
Non-Disclosure Agreements In Calgary, Alberta
We often find that non-disclosure agreements are often misunderstood. Non-disclosure agreements are sometime simply referred to as NDA or NDAS. In today’s information age, it is important for individuals and companies to protect sensitive or valuable information. The corproate lawyers at Kahane Law Office in Calgary, Alberta are able to help draft a non-disclosure agreement that suits your specific needs. While no agreement prevents all breaches of the contract, including an NDA when appropriate, you help protect your business.
What Is A Non-Disclosure Agreement?
A non-disclosure agreement is a contract between two or more people and/or corporations. It is a specific agreement that confidential information may not be disclosed outside those allowed under the agreement. Breaching a non-disclosure agreement can lead to significant financial damages. The agreement sets out which information is to be protected. It also sets out the consequences of any breach in the event somoene wrongly shares the information. Typically, an NDA is one to three pages.
What Is Confidential Information In An NDA?
Each NDA drafted for a client is different than ones for prior clients. When the lawyers at Kahane Law Office draft a non-disclosure agreement, we do not use a one form of NDA fits all situation approach. Our clients determine what is confidential information. Confidential information can be very broad or extremely specific. Legally, we refer to this information as intellectual property. Intellectual property has great value for many companies. In some cases, this type of corporate property has the greatest value of all the property of the company. For example, confidential information that our non-disclosure agreements have protected in the past includes:
- secret recipes;
- website traffic analytics;
- customer databases or phone lists;
- corporate financial information;
- Product costs and sale prices;
- business ideas;
- business systems;
- employee personal information; and lastly
- the location of a dig relating to dinosaur bones.
When To Use A Non-Disclosure Agreement
These types of contracts are most often used when a business (or item such as a website or relic or recipe) is up for sale and potential buyers want more detailed information. Canadian businesses should use caution to protect their assets, which include intellectual property, with a non disclosure agreement. The non-disclosure agreements allows a potential buyer to take a close look at the business or thing that they are buying. It allows them to complete their due diligence so that they can make an informed decision regarding such a purchase. While a seller would normally be cautious about disclosing this information, a non-disclosure agreement helps protect the seller. This is especially true when a competitor is looking to buy the business of a rival.
Why Hire A Lawyer To Draft An NDAs?
Finally, legal fees, or the fear about how expensive legal fees are, often keep people from getting the legal help they need. People sometimes ask “why hire a lawyer for drafting a non-disclosure agreement?”. The internet if full of information and templates (that may or may not be enforceable in a particular jurisdiction), but please exersize caution when using these stock contract. Several reasons exist for avoiding them. For example, we often see four main reasons to avoid a stock, internet based contract:
- NDA Cost: Kahane Law Office offers NDA drafting at a flat rate in most cases. Our fees are affordable and reasonable. It allows you to budget the legal fees needed in advance.
- Drafted for YOU!: Our non-disclosure agreement lawyers draft the agreement specifically for your specific needs and situation.
- Insurance & Local: We stand by our legal work. If we fail to protect you, we are not internet based in an unknown country. We work and live in Alberta. We also have insurance as required by the Law Society of Alberta. We are not an offshore website who can disappear and lastly
- Legal Advice: We do not draft in a vacuum. There may be essential things you need to know to better protect yourself. The internet provides information only. You need contextual legal advice specific to you and your business.
How An NDA Protects You
Firstly, an NDA sets out exactly what information needs protection. Secondly, it specifically states where the information can be stored, shaved, relaeased, or protected. Thirdly, they specify the steps required by each party when the relationship between the parties ends. Laslty, it includes consequences for breaches of the NDA.
Finding Non-Disclosure Agreement Lawyers In Calgary, Alberta
The non-disclosure agreement Lawyers at Kahane Law Office help with your non-disclosure contract and/or confidentiality agreement legal needs. Proetct yourself before you disclose informaion key to your business. Our corporate lawyer team can help draft or interpret agreements and our litigation lawyers can help defend them. CONNECT NOW. Please reach out to our lawyers toll-free at 1-877-225-8817 (or 403-225-8810 locally in Calgary, Alberta), if you prefer, please email us some basic information directly here.