If you own a business, you might have come across the term Non-Disclosure Agreement. A Non-disclosure Agreement or an NDA is a legal agreement that ensures the confidentiality of the data you share with others. An NDA gives you legal protection making sure people who have access to your confidential data don’t misuse it. It comes in handy when you are disclosing your business’s confidential and proprietary information to others, which, as an entrepreneur, you might often do.
Likewise, other businesses (with whom you are or likely to do business) might share their confidential information with you and may ask you to sign an NDA agreement. Hence, it becomes important that you know the nuances surrounding an NDA agreement.
Some instances where you require a Non-Disclosure Agreement.
A Non-Disclosure Agreement is the most commonly used legal document by businesses because a wide gamut of confidential information is exchanged every day between businesses on a large scale basis. Some important and common instances where you would need an NDA agreement are: