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An NDA is typically put to use any time that confidential information is disclosed to potential investors, creditors, employees, advisors, clients, or suppliers?or any other stakeholders that need access to the company's confidential information.

NDAs may be unilateral disclosure (one-way) where only one party is disclosing confidential or bilateral/multilateral (two-way or multi-party) where all the parties involved may be disclosing confidential information.

There is no such specific time limit given on the duration of the Non Disclosure Agreement. Generally, the the Non Disclosure Agreement is seen to extend over a period of 2 to 5 years. The corporates may also enter into a Non-Terminating Non Disclosure Agreement so as to protect the trade secrets permanently.

How to write a non-disclosure agreement: What's included? Introduction. Definition of confidential information. How to handle confidential information. Exclusions from confidential information. Obligations of receiving party. Duration of agreement. Resolving disputes. Integration.

Independent contractors are not required to maintain secrecy unlike employees, which means if you disclose any information to a contractor without a Non-disclosure agreement, there will be no legal action taken.

An NDA is a legally enforceable contract that prohibits the unauthorized sharing of sensitive information and establishes a ?confidential relationship? between the parties. A confidential relationship means that at least one party has a duty not to disclose the relevant knowledge without authorization.