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Non-Disclosure Agreement

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Non-Disclosure Agreement

Non-Disclosure Agreement

A Non-disclosure agreement is a confidentiality agreement. A non-disclosure agreement is a legally binding contract wherein the party or parties signing the agreement agree that sensitive information they may obtain will not be made available to any others. There are two primary types of non-disclosure agreements: mutual and non-mutual non-disclosure agreements.

Benefits Why Legal Door ?
  •  The "confidential matter" for which the nondisclosure agreement is engaged into is expressly described in a Confidential Clause of the agreement.
  • By legally keeping the parties together through the many terms created under the Non-Disclosure agreement, it supports in maintaining the utmost confidentiality between the parties. The receiving party is not allowed to reveal the secret information as a result.
  • The Non-Disclosure Agreement specifies the duration of the obligation to maintain confidentiality in various clauses. This time frame might extend past the NDA's own effective time frame.
  • A nondisclosure agreement is enforceable in court, and anyone who violates it is responsible for paying the injured party's damages (which is mostly the disclosing party).

 We appreciate your support and hope you were able to find a satisfactory solution to your problem; nevertheless, if you require any further help, don't hesitate to contact us. We are pleased to help you in any manner that we can.

FAQ

  • Information remains confidential.
  • Clarity on what information can and cannot be shared.
  • Cheaper to create.
  • Outlines consequences.
  • Sometimes create an atmosphere of mistrust.
  • Risk of deterring top-tier talent from joining the firm.
  • Can possibly sour the relationship with current employees.

If one breaks an NDA, they will be susceptible to the consequences outlined in the contract. Breaking an NDA may be considered a crime.

Common timeframes of NDA range between one year to 10 years, however, depending on the information that is to be kept private, an NDA may be indefinite.