What is confidentiality policy?
Business confidentiality policy is an internal policy that safeguards the company‘s confidential and client– and personnel–related data from outside parties.
when is confidentiality policy required?
confidentiality policy is widely required in most industries, for it ensures legitimate trade secrets, intellectual property rights, and the private information of employees.
How do you draft a confidentiality policy?
A business confidentiality policy can be drafted by dividing the policy into two sections: one for the company to provide protection for the confidential and client– and personnel–related data, and one defining the measures to combat and detect possible data leaks; the second section summarises the prevention, detection, and reporting guidelines for a data leak.
What clauses should be included into confidentiality policy?
- The most critical information to be included in confidentiality policy usually are:
- critical confidential clause
- attributability clause
- the types of intellectual property and trade secrets that the company wants to protect
- the types of information to be excluded from the confidentiality policy
- the company‘s confidentiality obligations
- confidentiality obligations of employees
- confidentiality–related sanctions
- the company‘s policies for handling requests for information
What types of information can or should be excluded from the confidentiality policy?
- company‘s financial information (NET and proprietary rights of the company)
- information concerning pending or potential legal proceedings
- information that could affect the public or individual security
- information that falls under industrial or intellectual property regulations
- information concerning the company‘s partnerships
What is the company‘s confidentiality obligations?
The company is obliged to protect the confidentiality of pertinent information and/or services that are legally subject to confidentiality limitations under applicable laws.