Non Disclosure Agreement (NDA)
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Non Disclosure Agreement (NDA)
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what is Non Disclosure Agreement (NDA)?
A Non Disclosure Agreement (NDA) also known as a Confidentiality Agreement or Confidential Disclosure Agreement is a legal contract or part of a contract between two parties promising to keep certain information confidential which may also to some extent restrict disclosure of restricted information to third parties. Confidential information may include trade secrets, business plans, strategies, etc. A Non Disclosure Agreement mainly includes the details of both parties, definition of confidential information, non-compete, termination etc.
Benefits of Non disclosure Agreement:
A Non Disclosure Agreement gives confidence to the parties to disclose critical and valuable details without the fear of it being leaked or misused. The definition of confidential information in an agreement provides clarity on information is confidential and what is not and also limits the usage of such confidential information. A Non Disclosure Agreement helps in preserving key business relationships since the parties are assured as to the safety of such information in the hands of trusted hands.
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Frequently Asked Questions
All you need to know before applying for Non Disclosure Agreement (NDA):
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