Human societies depend on the free flow of information. Societies and individuals develop both personally and economically by engaging freely in the creation and sharing of information. However, there are many certain situations in which the disclosure of information should be limited.
A non-disclosure agreement (NDA), also known as a confidentiality agreement, is a legal contract between at least two parties that outlines confidential materials, knowledge and/or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties. An NDA creates a confidential relationship between the parties to protect any type of confidential and proprietary information or trade secrets. As such, an NDA protects nonpublic business information.
Use when disclosing information about your projects and venture ideas or for business meeting in which new ideas for products and services may arise.