A Non-Disclosure Agreement (NDA) is a legally binding contract establishing confidentiality between parties. It safeguards sensitive information, trade secrets,...
An NDA is a legal contract creating a confidential relationship between parties, obliging one or both not to disclose sensitive or proprietary information shared during their dealings.
Businesses use NDAs to safeguard trade secrets, intellectual property, financial data, and client lists, preventing competitive disadvantages and unauthorized disclosure during various transactions or employment.
NDAs can protect a wide range of information, including business plans, product designs, marketing strategies, customer data, software code, financial projections, and manufacturing processes.
Breaching an NDA can lead to significant legal repercussions, including injunctions, monetary damages, legal fees, and reputational harm for the offending party.