Non disclosure agreements or confidentiality agreements are absolutely to prevent unintentional disclosure of your invention or business knowhow. These agreements generally oblige the receiving party to not disclose and not use the information disclosed to them.
Confidentiality obligations make sure that your invention is not disclosed publicly prior to filing your first patent application. Without these obligations in place, you risk your patent application being rendered invalid because its lacks novelty or newness because of your own disclosure.
Additionally, it is very important that the obligations go further than simply requiring the other party not to disclose the information. Ideally, confidentiality agreements should also cover and protect your information from being used by the other party. This is very important in situations where inventors are discussed their products with potential investors or suppliers.
Confidential also protect trade secrets and knowhow of your business. Know how is typically the practical knowledge of how to get something done. Often know how is closely guarded by companies and businesses and is used as a further barrier to entry in many markets.
Alder IP has a lot of experience in drafting and negotiating these types of agreements. Please contact us and we can tailor a confidentiality agreement to suit your needs and situation.