Does my business need a Confidentiality Agreement or Non-Disclosure Agreement?

Victor (Guest) on Friday, October 05 2012, 02:29 PM
I own and operate a small company in Taunton MA and I am about to start a project with with a few independent contractors who will have access to company information. I want to protect myself but don't want to come off as to formal or finicky with these guys.
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    Replied by Attorney Michael Doherty on Wednesday, October 10 2012, 09:04 AM · Hide · #1
    A Confidentiality Agreement or Non-Disclosure Agreement is crucial for any Massachusetts business that wants to protect proprietary or confidential business information. A properly drafted agreement will clearly define the confidential information it is protecting: trade secrets, proprietary information, customer lists, pricing, source code, products, etc. In addition, the party receiving the information, an employee, business partner, customer, or independent contractor, will agree not to disclose and maintain the confidential information. Confidentiality or Non-Disclosure Agreements are crucial to protect information that has been developed at great time and expense, from falling into the hands of a competitor.

    In general, Confidentiality and Non-Disclosure Agreements should be used whenever a business will be disclosing valuable confidential information. In particular, any business should present its employees and independent contractors, who have access to confidential information, with such an agreement. In addition, such an agreement should be used whenever a business sale is contemplated.
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