Nondisclosure Agreement (NDA)

What is a Nondisclosure Agreement (NDA)?

NDAs, or non-disclosure agreements, are defined as legally enforceable contract that creates a “confidential relationship”. It is signed between a person who has sensitive information and another one who will gain access to that information. A confidential relationship means one or both parties has duly agreed not to share the bound information with each other.

The other name for Non-disclosure agreements is confidentiality agreements, confidentiality disclosure agreements, and non-disclosure contracts. It is usually signed and exchanged at the beginning of a business relationship or large financial exchange. An NDA specifically focuses on an individual’s or organization’s information handling privacy. It differs from other business contracts like service or sales agreements. These agreements do not focus on the terms and conditions of service or transactions.

Also, See: Confidential Agreement