Secrecy the name of the game as firms seek extra protection
THERE has been a stark increase in Midlands companies asking for support with confidentiality agreements.
Amy Hylton, a solicitor at Brierley Hill-based law firm Higgs & Sons, says the increase correlates to the uncertain economic climate, with businesses doing everything they can to protect themselves.
“We have seen a huge uplift in confidentiality or non-disclosure agreements. This is not only in relation to business sales and acquisitions but also for research, development and supply relationships between businesses,” Hylton said.
“In tough economic times, it seems that people are trying harder than ever to protect commercially valuable information, such as client lists, trade secrets and pricing information.”
Hylton is urging businesses in the region to be fully aware of what they are signing up to and to ensure that the information they are agreeing to safeguard can be kept secret without damaging their future plans.
“Any business disclosing the information needs to ensure that the agreement is watertight in respect of each situation and type of confidential information being disclosed,” she said.
“Whether you are presented with such an agreement or are providing one, you should have it reviewed to ensure that its terms and obligations are fully understood and can be complied with.”
Higgs & Sons is on of the sponsors of BusinessDesk.com’s inaugural Midlands Business Masters awards, a new event to celebrate outstanding talent, innovation and achievement across the region.
Nominations are now open for the awards, which as well as rewarding company success, will highlight all that is good about business in the Midlands, including the outstanding personalities who make the region’s economy thrive.
An independent panel of respected business experts will judge the awards which will celebrate and honour the most successful businesses and entrepreneurs in the region.
The six awards categories are:
West Midlands Newcomer – Best new business initiative in the region
West Midlands Manufacturer – Celebrating the region’s top manufacturing firms
West Midlands Pride – Most meaningful philanthropic initiative by a business, organisation or leader
West Midlands Innovator – Most creative or original business thinking
West Midlands Ambassador – Greatest contribution to business in the West Midlands
West Midlands Exporter – Recognising overseas trade success
If you would like to submit a nomination please click here.
The shortlist will be decided by the judging panel and announced on the website. Readers will be invited to cast the final vote for the winners.
Tickets for the Midlands Business Masters, which will be held from noon to 3.30pm on May 10 at The Town Hall, Birmingham, are available for £125 per ticket plus VAT, sold in pairs. To buy tickets please click here.
