Confidentiality agreement

Confidentiality agreement?

Is it important or just a mere formality? What slhould i pay attention to?

Every time there is a necessity to disclose critical information that isn’t public knowledge, the Issuer (the person who discloses the information) should protect that information through a Confidentiality Agreement.
The protected information must be as achievable as possible, in order to avoid signing a general contract until the subject can be, at least, determinable.
In other words, one must set clearly the precise context in which the information will be disclosed (which information is disclosed and to what purpose).
In a confidentiality agreement one should define the conditions in which the disclosure of the given information is allowed, the conditions of access to that information and the conditions in which the disclosure is not allowed!
Furthermore, it is specially relevant the definition of penalty rules in the case of the non-performance of the agreement.
The confidentiality agreement can also regulate other equally relevant questions, such as the transmission of ownership rights or license over the possible existence of intellectual/industrial property rights.