A Non-Disclosure Agreement (NDA) is a legally binding contract between two parties, the Disclosing Company and the Receiving Company, which sets out the terms and conditions under which confidential information is shared. It is designed to protect the confidential or proprietary information of the Disclosing Company from unauthorized use, disclosure, or distribution by the Receiving Company. There are two main types of Non-Disclosure Agreements by Disclosing Company and Receiving Company: unilateral and mutual. A unilateral NDA is one-sided, where only the Disclosing Company is bound to protect the Receiving Company’s confidential information. A mutual NDA is between two parties, and both parties are bound by the agreement to protect each other’s confidential information. The content of a Non-Disclosure Agreement by Disclosing Company and Receiving Company typically includes the following: the definition of confidential information, the scope of the agreement, the duties and obligation of both parties, the duration of the agreement, and any other pertinent terms and conditions. It is important that both parties understand all the terms of the agreement in order to properly protect the confidential information.
Non-Disclosure Agreement by Disclosing Company and Receiving Company
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FAQ
More Definitions of The Discloser The Discloser means the revealing party of the ?Confidential Information?. ?The Recipient? shall mean the receiving party of the ?Confidential Information?.
As to any particular Confidential Information (as hereinafter defined), the ?Discloser? is the party disclosing such Confidential Information and the ?Recipient? is the party receiving such Confidential Information.
There are three types of NDAs: unilateral, bilateral, and multilateral. Read on to learn when you should use each type.
The Discloser or the Disclosing Party, obviously, is the party who's releasing the private or confidential information while the Recipient, the Receiver Party, is the party who's being trusted with the big secret.
On face value, there are two main parties, the promisor, who makes a promise, and the promisee, who receives the benefits of a contract. Both parties also hold an obligation to the contract. Sometimes, a third-party beneficiary benefits from a contract.
Understanding Non-Disclosure Agreements (NDAs) The NDA serves a purpose in a variety of situations. NDAs are generally required when two companies enter into discussions about doing business together but want to protect their own interests and the details of any potential deal.
To make known; reveal or uncover: to disclose a secret. to cause to appear; allow to be seen; lay open to view: In spring the violets disclose their fragrant petals.
3 NDAs are a must whenever confidential information needs to be shared. In my experience, NDAs are typically between two parties and are either mutual (both parties' information is protected) or unilateral (only one party's information is protected).