Glossary

A nondisclosure agreement [NDA] is a legally binding contract establishing the terms and conditions of sharing confidential information between two or more parties. 

The NDA outlines the scope and nature of the confidential information that will be shared, the parties involved, the duration of the agreement, and the consequences of any breaches of the confidentiality obligations.

The purpose of an NDA is to ensure that sensitive information, such as trade secrets, proprietary information, financial data, customer lists, and other sensitive business information, remains protected from unauthorized access and public disclosure. The agreement provides a legal framework that allows parties to share confidential information while maintaining control over its use and dissemination.

NDAs are commonly used in various business contexts, including mergers and acquisitions, joint ventures, partnerships, and employment agreements. They are also used in legal and medical fields to protect confidential client or patient information.