Non-Disclosure or Confidentiality Agreement
What is a Non-Disclosure Agreement?
This agreement is a legal contract between two or more parties that frameworks sharing of confidential or proprietary information for a specific purpose or in general. This contract also lays basis for non-disclosure of confidential information between the parties involved. NDA can get elaborated when signed between two companies or be specific when it’s between an individual and a company.
Information such as patents, trade secrets are extremely sensitive for companies and it is important for them to protect this information from being misused against the company. A non-disclosure agreement is also known as confidentiality agreement or secrecy agreement. It can be unilateral (with only one party obligated to keep the information confidential) or bilateral which binds both parties to the clauses.
When To Use?
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At the time of providing employment, this agreement can be inserted to cover non-disclosure conditions.
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When you’re signing a contract worker for a sensitive project.
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When you intend to provide blanket cover to protect proprietary information from being misused.
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If you’re dealing with sensitive client information and obliged to keep it secure as per contract.
What Does It Cover?
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Details of access to confidential information
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Wide categories of confidential information
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Duties and obligations of the receiver
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Term and other miscellaneous clauses