Confidentiality and Non-Disclosure Agreements

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Non-disclosure agreements (NDAs) are legally enforceable agreements between parties that are used to ensure that certain information will remain confidential.  NDAs are known by many names — including confidentiality agreements (CAs), and confidential disclosure agreements (CDAs), they typically have one very important thing in common: once a person signs an NDA, they cannot discuss any information protected by the agreement with a non-authorized party.

A business will an NDA in a variety of situations such as when a company is looking to sell, take on prospective investors it may have any prospective buyer or investor sign an NDA to protect any confidential information that the company may disclose during sale negotiations. 

Similarly, the company may have prospective vendors/suppliers sign NDAs.

One of the most common situations in which companies use NDAs, however, is when employees have access to confidential information, including trade secrets, proprietary processes, client information and lists, marketing strategies, and any other valuable or sensitive information.

As you can see, there are many applications for an NDA. If you have any questions as to whether your business will need an NDA, whether it is for employees or other reasons, please do not hesitate to contact us.