How Can I Protect Confidential Information in my Business?

Protecting Your Business: The Importance of Non-Disclosure Agreements (NDAs)

The law protects certain kinds of information as trade secrets, if the information is both valuable and kept secret. There are lots of other kinds of information that may not rise to trade secret level, but are nonetheless important for your business to keep confidential.

Examples of confidential information include customer lists, pricing and marketing strategies, technical innovations, specific methodologies for making your product or providing your services, and financial information.

You can protect this information, and also protect your trade secrets, by using nondisclosure agreements, or NDAs. All employees with access to confidential information should be asked to sign an NDA. Also, if you are in negotiations with another business and need to provide information as part of those discussions, you can enter into an NDA with the other business.

Learn more here about nondisclosure agreements in Massachusetts.