A Non-Disclosure Agreement (NDA) is a legally binding agreement between two or more parties, wherein they agree to not disclose confidential information shared between them. It is a type of contract that is used to protect sensitive information that could be used to the detriment of one or more of the parties involved, such as trade secrets, proprietary information, and/or any other information that is confidential in nature. NDAs are typically used when one party wishes to share sensitive information with another party, but does not want that information to become public knowledge. There are two types of NDAs: unilateral and mutual. A unilateral NDA is an agreement between two parties where only one of the parties is obligated to keep the information confidential, while a mutual NDA is an agreement between two parties where both parties are obligated to keep the information confidential. Additionally, NDAs can either be “one-way” or “two-way”. With a one-way NDA, only one party discloses confidential information, while in a two-way NDA, both parties disclose confidential information. Generally, an NDA will outline the confidential information that is being disclosed, the responsibilities of the parties in regard to the confidential information, the responsibilities of the parties in regard to the use of the confidential information, and any other terms of the agreement. It is important to note that NDAs are not legally binding unless they are properly drafted and executed by both parties.
A Non-Disclosure Agreement (NDA) is a legally binding agreement between two or more parties, wherein they agree to not disclose confidential information shared between them. It is a type of contract that is used to protect sensitive information that could be used to the detriment of one or more of the parties involved, such as trade secrets, proprietary information, and/or any other information that is confidential in nature. NDAs are typically used when one party wishes to share sensitive information with another party, but does not want that information to become public knowledge. There are two types of NDAs: unilateral and mutual. A unilateral NDA is an agreement between two parties where only one of the parties is obligated to keep the information confidential, while a mutual NDA is an agreement between two parties where both parties are obligated to keep the information confidential. Additionally, NDAs can either be “one-way” or “two-way”. With a one-way NDA, only one party discloses confidential information, while in a two-way NDA, both parties disclose confidential information. Generally, an NDA will outline the confidential information that is being disclosed, the responsibilities of the parties in regard to the confidential information, the responsibilities of the parties in regard to the use of the confidential information, and any other terms of the agreement. It is important to note that NDAs are not legally binding unless they are properly drafted and executed by both parties.
