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What this contract is, in plain English.
You and the company agree to keep each other's business information confidential for three years from the date of signing. This applies whether the information is shared in writing, verbally, or in any other form. At the end of three years, the obligation lapses automatically — you are not bound to keep secrets forever. This is a mutual agreement, meaning both sides have the same obligations.
3 clauses worth a closer look.
Verbal conversations are covered
The definition of "Confidential Information" explicitly includes anything discussed in meetings or over the phone. There is no requirement for the disclosing party to mark information as confidential for it to be protected.
No carve-out for publicly available information
If information you receive under this NDA later becomes public through another source, the contract does not automatically release you from your obligation. Many NDAs include a "public domain" carve-out — this one does not, so your obligation continues regardless.
No non-compete restrictions
This NDA only covers confidentiality. It does not restrict you from working with competitors or in the same industry — only from sharing what you learn.
What this contract gives you.
You retain all rights to your own pre-existing information and independently developed ideas. Nothing in this agreement transfers ownership of your intellectual property to the other party. You are entitled to disclose confidential information if required by a court order, provided you give the other party advance notice where legally permitted.
What you're agreeing to do.
You must not share, copy, or use the other party's confidential information for any purpose outside the scope of your business relationship. This applies for three years from signing. You must ensure anyone at your organisation who receives the information is aware of and bound by these obligations.
How and when you can end this.
The confidentiality obligations run for three years from the date of signing, then lapse automatically. There is no early termination clause — both parties remain bound for the full three years. If the underlying business relationship ends sooner, the NDA obligations continue until the three-year window closes.