Non-Disclosure Agreements Promote Partnerships for Success

Non-Disclosure Agreements Promote Partnerships for Success

The Currency of Information: How to Spend it Wisely

In today’s global market, the intellectual property of a company is without question one of its most valuable assets. Intellectual property (IP) can take many forms, but is in general defined as any design, process, idea, or material developed by the company that is of a unique nature. It also can refer to the existence of a confidential relationship between two or more businesses. Accidental or intentional disclosure of a company’s IP can mean the loss of its competitive edge—or worse. In order to bring a product to market, however, companies often must disclose some amount of IP to a second party. When this becomes necessary, the IP of the company (and often of both companies) is protected by a Non-Disclosure Agreement (NDA).

Many customers of HTI Plastics provide their own NDAs; in other cases, HTI provides a mutual NDA clearly defining the legal protections for both parties, thus allowing projects to freely progress. The NDA is a promise made by both HTI and the client not to share or disclose confidential information to a third party, or to use the information for individual profit. In most situations, the duration of the agreement is three years, but both parties may agree to a specified term following the project’s conclusion.

The protection of intellectual property is an integral component of HTI’s culture and company focus. To this end, even companies that do not necessarily require an NDA receive the same degree of IP protection when they do business with HTI.

A competitive edge built on mutual respect and trust is a point of pride for HTI Plastics. This deeply-held belief has guided the formation of lasting partnerships with HTI customers, and will continue to drive project development and mutual success.