Non-Disclosure Agreements in Spain
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?
Creating an NDA should be executed with care. It is crucial that there are ironclad defense clauses for your IP, if circumstances require to disclose some commercial secrets. Every business is different, therefore, a specific Non-Disclosure Agreement must be tailored to fit the needs and characteristics of the items that require protection. We highly recommend the services of legal professional when drafting an NDA.
The risk of a badly written agreement is that your secrets are revealed and your options recourse and action are severely restricted.
Our team of Corporate Lawyers at Lexidy LegalTech Boutique will help you draft bullet-proof agreements so that you can 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:
- Speeding up the process from drafting to execution.
- Having peace of mind that your trade secrets are protected.
- 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?
They are also known as “confidentiality agreements”. A non-disclosure agreement, or NDA, is a legal document that establishes a confidential relationship between two parties.
The purpose of this document is to avoid sensitive information leaking into the public domain or to other competitors. The agreement forbids anyone who signs it to disclose the information described in it. This is normally trade secrets and know-how, but is not limited to.
The agreement is binding and sanctions could follow should any party breach it.
How can a Non-Disclosure Agreement benefit my business?
All businesses have secrets, knowhow or sensitive information that they do not want third parties to access. However, there are many occasions when they need to grant outsiders access to the information. For example, so that third party companies can provide their services to the company or so that they can perform a proper audit of the company’s liabilities during Due Diligence.
In these situations, having a third party sign a Non-Disclosure Agreement can protect your trade secrets or your business intellectual property from being revealed to the public
The agreement may be binding to both parties or to just one of them. This depends on whether they are both disclosing sensitive information, or if it is just one of them.
NDAs are typically needed in the following situations:
- When a company contracts a sensitive service with a third party. For example accounting, consultancy and legal advice.
- When a company has to present its business plan to receive financing from a Bank, investor or to 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.
What is the process of creating a Non-Disclosure Agreement?
The main steps for creating a Non-Disclosure Agreement are as follows:
First, a lawyer helps to define the information that must be protected from being disclosed.
Then the lawyer drafts the documents in a legally binding way. They do this by carefully wording the clauses to avoid loopholes and set sanctions in the event of breach of contract.
There are six major elements contained within an NDA.
- The name of the parties
- A clear definition of the concepts considered as confidential
- Cases where a disclosure is acceptable
- Definition 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. Then you can speak freely.
Frequently Asked Questions
A professionally written agreement will have the right mechanisms to prevent any leak and disclosures from occurring. However, there are occasions where an agreement is breached and we must then enforce it with judiciary means and demand damages.
As a rule of thumb the answer is yes. However, both parties can agree to resolve matters in a faster way, for example via arbitration. We can help you identify costs and benefits of each option to see which one fits you better.
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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