Confidentiality Agreement For Potential
Business Transactions

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General Purpose. This agreement is intended for two parties who are contemplating a potential, future business relationship. The relationship could be, for example--the purchase of a business, the licensing of a business or manufacturing process, a distributions agreement, sale of an asset, a marketing arrangement, etc.

Confidentiality. A confidentiality agreement is generally used in two settings: (a) as part of an employment or independent contractor agreement and (b) as a prelude to discussions between two parties exploring the possibility of transacting business. This form covers the second of those two possibilities. The following are links to others MedLawPlus.comŽ forms that contain confidentiality agreements:

1. Employment Agreement
2. Independent Contractor Agreement
3. Confidentiality Agreement for Employees and Independent Contractors (without the full employment agreement)
4. Letter of Intent (used once the parties have reached agreement relative to an asset or business sale)

This form allows two parties beginning discussions for a future business relationship to agree to the following:

1. Not to disclose "confidential information" exchanged between them for a period of time. Examples of such information are customer lists, pricing information, methods for obtaining new business, production processes, other trade secrets, and internal company financial information. This is the purpose the form you are currently working with addresses.
2. Select the period for which "confidential information" shall not be disclosed;
3. Provide additional remedies in cases where one party breaches the confidentiality agreement;
4. Provide that "confidential information" must be returned upon the demand of the disclosing party;
5. Select which state's laws apply to the contract; and
6. Select the location where any suit to enforce the agreement, should one be necessary, must be brought.

Links to additional information relative to confidentiality agreements:

David V. Radack, Understanding Confidentiality Agreements; and

Non-disclosure Agreements, About.com.

Links to additional information relative to noncompete agreements:

Employee Noncompete agreements by SmartAgreements.com; and

Noncompete Agreements by Lycos Small Business.