Non-Disclosure Agreements in Portugal
Ensure your confidentiality is respected and protected
Our corporate lawyers will guide you through the process step-by-step.
How can a lawyer help me?
There must be vital defense clauses for your IP. Every business is different and has different needs.
Therefore, a Non-Disclosure Agreement must be tailored to fit the business and the information that needs to be protected. We highly recommend hiring a legal professional when drafting an NDA.
A poorly written agreement can reveal your secrets and limit what you can do with the other party regarding recourse and action.
Our team of Corporate Lawyers at Lexidy LegalTech Boutique will help you draft bullet-proof agreements. This allows you to run your company with ease.
We will help you understand the potential risks and provide you with the best options to safeguard your intellectual property. We will also conduct negotiations with other parties if need be.
So to summarize, allowing Lexidy’s legal professionals to take care of your NDA means:
- First, speeding up the process from drafting to execution.
- Have peace of mind that your trade secrets are protected.
- Finally, being able to concentrate on what matters – your business.
¨We will be with you each step of the journey.¨
What is a Non-Disclosure Agreement?
Non-disclosure agreements are also called “confidentiality agreements.” They establish a confidential relationship between two parties. These documents aim to avoid sensitive information leaking into the public domain or to other competitors.
A non-disclosure agreement is a contract that prohibits someone from sharing confidential information. This information can include trade secrets and proprietary knowledge, but it is not limited to these items.
The agreement is legally binding, and sanctions are imposed for any breaches. It enures confidential information remains protected and that there is no unauthorized access.
How can an NDA benefit my business?
All businesses need to protect their sensitive information. For example, a third party company may be performing services for them or conducting due diligence on them. When this happens, the third party must sign an NDA, so they do not reveal your trade secrets or IP publicly.
One way to protect your trade secrets or business intellectual property from being revealed to the public is with a Nondisclosure Agreement. These are usually signed by a third party.
The agreement may only be binding to one of the parties, or it could bind both. It depends on whether both have shared sensitive information or if just one does.
NDAs typically need to be signed under the following circumstances:
- When a company contracts a sensitive service with another organization. For example, accounting, consultancy and legal advice.
- When a company has to present its business model to receive financing from a bank, investor, or gain access to an incubator.
- When a company is in the process of a Merger or Acquisition.
- When a Company contracts employees that may gain access to sensitive information or trade secrets.
Nondisclosure agreements prevent the misappropriation of trade secrets and sensitive data by third party vendors. These agreements are the best way to protect classified information about your products or services.
What is the process of creating an NDA?
Non-Disclosure Agreements (NDA) are agreements made between two parties, where one party grants the other party confidentiality. A lawyer creates the document and protects sensitive information from being disclosed.
The first step in creating an NDA is to define what needs to be protected. Then a lawyer can carefully word the clauses and terms to avoid loopholes. If there is ever a breach of contract, there will be sanctions.
There are six significant elements contained within an NDA.
- The name of the parties
- A clear definition of the concepts considered confidential
- Cases where disclosure is acceptable
- Description of the correct use of information
- The time periods of confidentiality
- Consequences in case of breach
Finally, we get all the parties to sign the document and understand the information that’s covered. Once that happens, you can freely discuss the matter at hand.
Frequently Asked Questions
A professionally written agreement will likely prevent any leaks or disclosures from happening. However, it does happen occasionally, and when a contract is breached, we enforce it with judicial means and ask for damages.
Generally speaking, the answer is yes. However, both parties can agree to resolve matters faster, for example, by arbitration. We can help you identify the costs and benefits of each option to know which one fits better with your needs.
We are a department formed by qualified legal experts who have been trained in the field of corporate law. We work on these requests every day and it’s our passion. For us, Lexidy is a way of life and what excites us the most is to be able to deliver the happiness and satisfaction of a successful process. We want to help you achieve your goals and dreams.
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