But the key to doing so safely is making sure that the other party is bound to respect the confidential information you provide them and not use it to your detriment.
One common way to protect the secrecy of confidential information given to another party is through the use of a standard non disclosure agreement, which is sometimes also referred to as NDA. For more information about getting a non disclosure agreement in New Jersey, please visit this website.
When do you need an NDA?
When does it make sense to require another party to sign a simple non disclosure agreement? There are probably many instances where it may be appropriate. But the principal situations are those in which you wish to convey something valuable about your business or idea, but still want to ensure that the other side doesn’t steal the information or use it without your approval.
You may use an NDA when:
1. Presenting a new business idea to a potential partner, investor, or distributor
2. Sharing financial, marketing, and other information with a prospective buyer of your business
3. Showing a new product or technology to a prospective buyer or licensee
4. Receiving services from a company or individual who may have access to some sensitive information in providing those services
5. Allowing employees access to confidential and proprietary information of your business during the course of their job
To start writing your very own NDA, you can search online and download a free non disclosure agreement, from that sample you can modify the terms to suit your requirements.