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A confidentiality agreement protects business during divorce

| Aug 5, 2020 | Divorce |

During the divorce process, a great deal of documentation is shared between both spouses and their corresponding divorce teams. Though this is completely normal, there may be times when one party wants to protect certain information, usually pertaining to that person’s business. Experts advise that person to obtain a confidentiality agreement that applies to certain information shared during divorce. Here is information for those here in Michigan who wonder if they may need such an agreement.

For the most part, a confidentiality agreement applies to private business information that one spouse may have to share with another during divorce. It is the kind of information that should not be made public, like customer data. The agreement will specify the included information, how it will be handled and who may have access to it. The agreement also outlines what happens in the case of a violation.

Though business owners may be the most likely people to use them, certain employees may need them as well. This is especially true if their company expects certain information to be kept private. If someone getting a divorce isn’t sure whether he or she needs one, experts say it is better to be safe than sorry and obtain one. Not having one could have disastrous consequences for both or either party if private information became public.

Those in Michigan who think they may need a confidentiality agreement as part of their divorce should consult an attorney. An experienced family law attorney can consider all aspects of a divorce and work to achieve a fair agreement between all involved parties. This way, everyone can move forward with confidence and peace of mind.

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