Nda Agreement Definition
An NDA is a legal agreement between two or more parties that establishes a confidential relationship. The purpose of an NDA is to protect sensitive information from being disclosed to third parties. This type of agreement is also known as a confidentiality agreement or non-disclosure agreement.
An NDA can be used in a variety of situations, such as when two companies are considering doing business together and need to share confidential information, or when an employee needs to sign an NDA in order to access proprietary information at their job.
NDAs are typically signed before any confidential information is exchanged, and they can be either unilateral or bilateral. A unilateral NDA is between one party and another, while a bilateral NDA is between two parties.
The terms of an NDA can vary depending on the situation, but generally speaking, they prohibit the recipient of the information from disclosing it to anyone else. NDAs also usually include provisions for what will happen if the confidential information is leaked, such as financial damages or legal action.
There are many different types of NDAs, but the most common are:
One-way: This type of NDA protects information that is only being disclosed by one party. The other party agrees not to disclose the information to anyone else.
Two-way: This type of NDA protects information that is being disclosed by both parties. Each party agrees not to disclose the other party’s confidential information.
