Confidentiality Clause

Confidentiality Clause

January 22, 2020

Confidentiality clause is that part of an agreement that prevents the other party to the agreement from revealing vital information that they became privy to as a result of being a part of the agreement without proper authorization. This is also in some cases referred to as a “Non-disclosure Agreement”.

A confidentiality clause is essential in an agreement and cannot be overlooked and this is because a confidentiality clause protects commercial trade secrets or information that are valuable to the company or the party that owns it.

Also, a confidentiality cause gives parties to an agreement the freedom to deal with each other freely by revealing information of the company for the advancement of the contract with the assurance that the information disclosed is safe and unexploitable. In such an agreement, parties must maintain the information conveyed and not reveal it to a third party for their benefit or the benefit of a third party.

Finally, including a confidentiality clause in an agreement or contract makes you legally protected. This is because you have a valid cause of action before a court of competent jurisdiction. Disclosure of a confidential information can cause a breach of the contract/agreement and the defaulting party may be asked to pay for such a breach.

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

More Articles

Search

Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • What additional documents do I require to file my Annual Returns?
  • Must my Company Secretary be a Lawyer?

    Although it’s ideal to have a lawyer as a company secretary, it is not compulsory for small private businesses.
  • What is an execution clause in a contract?

    This is the section in which the parties sign the contract or agreement.
  • If I have NAFDAC Registration number, do I still need SON registration number?

    SON Product Registration scheme is mandatory for all SON’s regulated products as mandated by SON Act 56 of 1971, 20 of 1984, 18 of 1990 as amended.

    This is irrespective of the registration done by NAFDAC
  • What is classified as personal data?

    Name, photograph, personal health/bio information, account/financial information, phone number, Address, date of birth, place of birth, Email address, etc.
  • Can industrial design be protected under copy right law?

    Yes, it can be protected under copyright law as a work of Art.
  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office
  • Why do i need a Shareholders Agreement?

    You need a Shareholders Agreement to protect your investment in a company.  The shareholders Agreement establishes a fair relationship between all shareholders and sets out how the company is run.
  • What is a trademark?

    A trademark can be any word, sign, symbol or graphic that you apply to your company, goods or services to distinguish them from those of your competitors; for example, a brand, product or company name, or logo. The trademark serves as a badge of origin for your business and its brands and products, and can consist of words, logos, slogans, colours and shapes, or a combination of all of these.
All FAQs
Call Us Now on +234 901 719 0079 Chat on WhatsApp