No Disclosure Agreement

Hello sir, I am Rohit Sharma. I am from Mumbai. I want you to help me by giving me some information about the Non Disclosure Agreement. Can you give me some details about it?

As you have asked about the Non-Disclosure Agreement, I am giving you
information about it

A non-disclosure agreement (NDA) is a type of legal contract between at least
two parties that outlines confidential material, knowledge, or information that
the parties wish to share with one another for certain purposes, but wish to
restrict access to or by third parties.

NDAs are commonly signed when two companies, individuals, or other
entities (such as partnerships, societies, etc.) are considering doing business
and need to understand the processes used in each other's business for the
purpose of evaluating the potential business relationship.

NDAs can be "mutual", meaning both parties are restricted in their use of the
materials provided, or they can restrict the use of material by a single party.

Types:


A non-disclosure agreement may be unilateral or bilateral, that is, it may bind only one party or multiple parties (typically two):

Unilateral NDA
A unilateral, or a one-way, agreement is where one party wants to disclose certain information to another party but needs the information to remain secret for some reason, perhaps due to secrecy requirements required to satisfy patent law.

Bilateral NDA
A bilateral, or mutual, agreement is where both parties will be supplying information that is intended to remain secret.
This type of agreement is common when businesses are considering some kind of joint venture or merger.

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Answered By StudyChaCha Member