UBS

Confidentiality Agreement (NDA)

What is a Confidentiality Agreement (NDA)?

A confidentiality agreement is known as a non-disclosure agreement or simply an NDA. It is a contract between two or more parties preferably the employee and the employer signed before the employee starts the job. It is the subject of the agreement which shows that a promise has been made about the information conveyed and that it will be maintained in secrecy.

These agreements can be of two types:

Mutual agreements: Where both parties are obligated to maintain the secrecy of the information shared.

Unilateral agreements: Where only one party shares the information and the receiving party becomes obligated to maintain secrecy.

Mutual confidentiality agreements are useful when both parties will be conveying confidential information and the secrecy has to be maintained both ways. However, unilateral confidentiality agreements are used when only one party is turning over confidential information and both of them need to maintain secrecy. 

Also, See: Contract Labour Act

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