Many of our readers in Nevada have probably heard the times we live in referred to as the "Information Age." There is a lot of truth to that concept, as advances in technology and, of course, the Internet, make information a type of currency of commerce. This is why many companies throughout the country use confidentiality agreements to help them contain where information spreads - with the specific intent to keep information in-house.
The heart of a confidentiality agreement is protecting ideas and information. When a confidentiality agreement is breached and a dispute erupts, it is most likely because someone who is a party to the agreement takes exception to information spreading where it isn't intended to do so. Confidentiality can be crucial for the long-term business success for companies in Nevada.
The problem many business leaders run into when they have partners or employees who are subject to confidentiality agreements is what, exactly, is defined as "confidential." Agreement terms that are overly broad or vague may be unenforceable, while terms that are too specific may leave out critical information that needs to be keep secret. Like any contract or agreement, the way that a confidentiality agreement is drafted is crucial when it comes to enforcing the agreement's terms.
Companies in Nevada have good reason to use confidentiality agreements. Business leaders work hard to craft inventory or ideas that are at the core of a business model. To lose information or ideas to competitors can be crushing. Anyone in Nevada who has run in to a confidentiality agreement dispute would likely benefit from getting more information about their own unique circumstances.