#1
10th March 2016, 03:51 PM
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NDA Disclosure
Hello sir I am here as I want to know what is the meaning of non-disclosure agreement (NDA) so will you please tell me about this to me??
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#2
10th March 2016, 03:52 PM
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Re: NDA Disclosure
A nondisclosure agreement(NDA) is a legally enforceable contract that creates a confidential relationship between a person who holds some kind of trade secret and a person to whom the secret will be disclosed. An NDA creates a confidential relationship between the parties to protect any type of confidential and proprietary information or trade secrets. Types of NDA: Unilateral NDA A unilateral, or a one-way, agreement is where one party wants to disclose certain information to another party but needs the information to remain secret for some reason, perhaps due to secrecy requirements required to satisfy patent laws[1] or to make sure that the other party does not take and use the disclosed information without compensating the discloser. Bilateral NDA A bilateral, or mutual, agreement is where both parties will be supplying information that is intended to remain secret. This type of agreement is common when businesses are considering some kind of joint venture or merger. Some common issues addressed in an NDA include -outlining the parties to the agreement; -the definition of what is confidential, i.e. the information to be held confidential. -The disclosure period – information not disclosed during the disclosure period (e.g., one year after the date of the NDA) is not deemed confidential; -the exclusions from what must be kept confidential. -provisions restricting the transfer of data in violation of national security; -the term and conditions (in years) of the confidentiality, i.e. the time period of confidentiality; -the term (in years) the agreement is binding; -permission to obtain ex-parte injunctive relief; -description of the actions needs to be done with the confidential materials upon agreement ending; -the obligations of the recipient regarding the confidential information -types of permissible disclosure – such as those required by law or court order (many NDAs require the receiving party to give the disclosing party prompt notice of any efforts to obtain such disclosure, and possibly to cooperate with any attempt by the disclosing party to seek judicial protection for the relevant confidential information). -the law and jurisdiction governing the parties |
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