Every Company Needs a Documented Confidentiality Policy
Sample Confidentiality Definition
- Confidential information is a valuable asset of any Company and must be protected from unauthorized disclosure to ensure continued success. Confidential information is defined as the type of information or technical data which would give a Company a competitive edge in the marketplace, and which, if released without authorization, could result in harmful consequences for a Company.
- Confidential information also includes all information not publicly announced that could reasonably affect the value of a Company if it were disclosed to the public.
Examples of Confidential Information
- Financial results including forecasts and projections
- New product developments and other R&D
- Marketing strategies/campaigns
- Material pricing changes
- New equity or debt facilities
- Planned acquisitions
- Planned divestitures
- Significant litigation developments
Example of Confidentiality Guidelines
- Information regarded as non-confidential may be openly discussed with outsiders. Non-confidential information is information published in publicly accessible media such as the internet, marketing collateral, newspapers or magazines.
- Electronic mail is not always the most secure way to send information. If there is a business need to communicate with someone outside the Company, confirm with your manager that an appropriate Non-Disclosure Agreement has been signed before emailing information outside the Company network.
- All employees need to use discretion when verbal communication is being used outside of work such as at social gatherings, industry conferences, and trade shows. Company personnel must not discuss internal business matters or developments with anyone outside of the Company (including, without limitation, family members), except as required in the performance of regular corporate duties.
More to Consider – Fair Dealing – the West Point Rule
- A company seeks to outperform its competition fairly and honestly through superior performance and not through unethical or illegal business practices. Company Parties must endeavor to deal fairly with their colleagues and company customers, suppliers and competitors.
- Company Parties cannot steal proprietary information, possess trade secret information obtained without the company’s consent or induce such disclosures by past or present employees of other companies.
- No Company Party may take unfair advantage of anyone through manipulation, concealment, abuse of confidential information, misrepresentation of material facts or any other unfair-dealing practice.
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