Reciprocal Confidentiality Agreement

Whenever confidential information needs to be exchanged a confidentiality agreement should be used. Our reciprocal confidentiality agreement template is a two way agreement that states that the two parties will keep confidential any information disclosed by both parties. This is different than the one way confidentiality agreement that has only one party disclosing information. It may be necessary for the first party to gain an investor so they would have to disclose pertinent information to a second party to see if they were interested. The second party might need to disclose private information to the first party to negotiate a deal that they do not want leaked. So in this situation a reciprocal or two way confidentiality agreement would protect both parties involved.

The template that this web site provides for the reciprocal confidentiality agreement has been drafted by a UK solicitor so that you can be sure of its reliability. Because of the solicitor being involved it is comprehensive; however, it is also customisable if necessary. It is written in clear concise text that is easy to read and understand. Because you purchase the template and download it to your computer you can reuse it again and again.

Although it is called a reciprocal or two way confidentiality agreement it can be used by more than two parties. It will restrict the divulging of any information that any of the parties wishes to be kept private. No information that the parties have disclosed to each other will be available for disclosure without prior consent of the parties involved. This agreement is ideal for commercial ventures that might be undertaken by more than one party. Once all the interested parties have signed the reciprocal confidentiality agreement it will become legally binding to all parties. Other areas where a reciprocal confidentiality agreement might come into play would be a business plan, invention, or idea.

You could enter into a confidentiality agreement with each one of the parties individually if you wanted to. While there is a one way confidentiality agreement there is also a confidentiality letter that could be used instead. When you might want to use this approach instead of the reciprocal confidentiality agreement would be if you were looking for an investor. They might not have enough interest in your idea and you aren’t sure if they will actually help. So using a less formal approach with a confidentiality letter would be a good alternative to the agreement which is lengthier.

An example of when you would want to use the two way or reciprocal agreement would be if you already had a product that you manufactured. A company might want to sell your product and to do this you would have to negotiate a deal. When performing this negotiation you both would have to divulge information that shouldn’t become known to anyone else. Signing the reciprocal confidentiality agreement allows the negotiations to move forward with the benefits coming to both parties.

By signing a reciprocal confidentiality agreement it would provide you with a legal liability to act if one of the parties divulged information that wasn’t supposed to be. It offers the protection of the law so that both parties can come to an agreement without worries.

Once you have purchased the reciprocal confidentiality agreement you have complete access to it whenever you need it. It can be stored on your own computer or if you prefer we offer a free online storage space. All of our customers have access to the client control panel for the ability to store the template.

Remember, it is possible to customise the template should you need to so and it can fit your needs precisely. Browse the web pages on our site to find other confidentiality agreements and letters that you may need. Also, if you decide on a yearly subscription you can have access to all of the confidentiality agreements we offer.