Keeping it Confidential

Last week, our company successfully launched a new and unique women’s exchange network, referred to as IWON. Before we started, we were challenged by which legal document could be easily understood by all that ensured our secrets do not intentionally, or otherwise, be shared outside the group. So, we did our research before consulting our attorney.

Initially, we considered using our firm’s standard non-disclosure agreement that is intended for circle of trust advisors who may be asked to work on an individual client’s project. It was clear this larger document was not a fit for our women’s group. The term ‘overkill’ was used by more than one member when viewing this document. And at least one asked: 'is such a document or agreement even necessary, will we even be sharing any confidential information?’.

Well, having been a participant in an Executive Exchange for years at my previous position, I knew first hand that personal and/or confidential information will be shared, even unknowingly. So, it was imperative to find a document that we all could understand and agree upon, prior to the start of the inaugural session.

In the end, and with the quick turn-around from our legal counsel, we opted to utilize a document called Acknowledgment and Waiver of Confidentiality. It was not even two (2) full pages, and despite having the apparent requisite number of legal ‘Whereas’ statements, each member understood it, and agreed it was an appropriate document to sign, unaltered.

If you find yourself in need of some legal protection with clients or groups you are a part of, consider discussing this document with your lawyer. It worked for us and it is surprisingly simple for all non-legal trained professionals to understand.

As expected, information emerged that could be proprietary in the right setting, as dialogue became more detailed. We were right in pressing for a document that not only protected that information but was simple enough to remind each of us what is said in IWON, stays in IWON.

Be like our cute French Bulldogs in today’s blog photo, anything said in secret or private, stays there. And know that your attorney will likely have the correct document to help remind and enforce that confidentiality for you.

Be well.