Confidentiality Agreement

Description

• A Confidentiality Agreement, also known as a Non-Disclosure Agreement (NDA), is a legally binding contract that protects sensitive information shared between two or more parties. It ensures that confidential data, trade secrets, or proprietary information are not disclosed or used without authorization.

GOV Department

• (Depends on the specific application or enforcement, e.g., Ministry of Domestic Trade and Consumer Affairs (KPDN) or relevant regulatory bodies.)

License Name (Malay)

• Perjanjian Kerahsiaan

Details

• Used in business deals, partnerships, employment, or collaborations to safeguard sensitive information.
• Specifies the scope of confidentiality, including what constitutes confidential information and how it should be handled.
• Includes terms on the duration of confidentiality, permitted disclosures, and consequences of breaches.
• Can be mutual (both parties share information) or one-sided (only one party discloses information).

Important Rules

• The agreement must clearly define the scope and limitations of the confidentiality.
• Both parties must fully understand and agree to the terms before signing.
• Confidential information must be labeled or identified to avoid disputes.
• The use of disclosed information must be strictly for agreed purposes.
• Confidentiality obligations may remain enforceable even after the agreement's termination.

Compound & Punishment

• Breach of a confidentiality agreement may result in:
  • Fines or monetary damages as specified in the agreement.
  • Legal action, including injunctions to prevent further disclosure.
• Misuse of confidential information can lead to additional penalties under applicable laws, such as the Copyright Act 1987 or Trade Secrets Protection Act.

Advisor