Confidentiality Agreements - what happens if they are breached?

BIG NEWS - I am pleased to announce that You Legal has been listed as a FINALIST in the 2015 Telstra Business Awards! This week, in YOU LEGAL TV, we discuss confidentiality agreements. What can you do if a party breaches a confidentiality agreement? And what steps should you take? You can also learn more about confidentiality agreements in our blog post on What is a Confidentiality Agreement?

See below for the complete transcript of this episode -

Hi, my name's Sarah Bartholomeusz and welcome to You Legal TV.

At You Legal, we help leaders in growing companies make bold decisions in their businesses.

One thing that we find growing companies need to do a lot of is enter into confidentiality agreements.

When a company shares information with a counterparty that isn't in the public domain, it's very sensible and always recommended that it enter into a confidentiality agreement.

But what happens if your counterparty discloses confidential information belonging to you?

Sometimes, if it's a minor disclosure that hasn't caused damage to your company, it may be resolved between the parties. However, a larger breach could cause irreparable damage.

We recommend including a clause in a confidentiality agreement stating that the other party recognizes this. In some cases, the amount of damage may need to be calculated by a court rather than by the counterparties themselves.

This Agreement will typically contain five types of clauses:

So, on that happy note, give us a go if you have any questions about protecting your confidential information, and we look forward to seeing you on future episodes of You Legal TV.

What Should I Do Next?

Contact us if you would like further legal advice on confidentiality agreements.  Our lawyers at You Legal will be happy to assist you in whatever way we can.

* This blog is for general guidance only. Legal advice should be sought before taking action in relation to any specific issues.