What is a non disclosure agreement

Hello sir I want to know about the non disclosure agreement so please provide me suitable information about the same.

[Shaleen]

A non-disclosure agreement (NDA) is a legal contract between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes.

About the NDA

It is also known as a confidentiality agreement (CA), confidential disclosure agreement (CDA), proprietary information agreement (PIA), or secrecy agreement (SA)

It is a contract through which the parties agree not to disclose information covered by the agreement.

An NDA creates a confidential relationship between the parties to protect any type of confidential and proprietary information or trade secrets.

As such, an NDA protects non-public business information

Types of NDA

A non-disclosure agreement may be unilateral or bilateral,

It may bind only one party or multiple parties (typically two):

1. 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,

It wants to make sure that the other party does not take and use the disclosed information without compensating the discloser.

2. 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.

Key functions:

NDAs protect sensitive information.

By signing an NDA, participants promise to not divulge or release information shared with them by the other people involved.

If the information is leaked, the injured person can claim breach of contract.

In the case of new product or concept development, a confidentiality agreement can help the inventor keep patent rights.

In many cases, public disclosure of a new invention can void patent rights.

A properly drafted NDA can help the original creator hold onto the rights to a product or idea.