No. 1, Doctor Lane, Gole Market, Delhi-110001
support@gainme.com
A Non-Disclosure Agreement (NDA), also known as a confidentiality agreement, is a legally binding contract in which one party agrees to give a second party confidential information about its business or products and the second party agrees not to share this information with anyone else for a specified period of time. NDAs are used to protect sensitive information and intellectual property by outlining in detail what information must remain private and what information can be shared or released to the public
What should be included in an NDA?
An NDA is important where a business wants to restrict its employees or contractors or business allies from sharing confidential or sensitive information. This information could include trade secrets, client information, strategies, product information, or any other proprietary information they might have. When an NDA is created and signed by both the parties, it becomes a legal agreement. If there is a breach of agreement, the person who breached the agreement can be sued for claiming damages on account of loss arising due to sharing of confidential information
Confidential information can be designs, assembly drawings, know how processes, inventions, concepts, technical or commercial information, marketing strategies, models, patents, client data, computer programs or codes or any other information that is passed by the disclosing party to the receiving party
There are basically 2 types of non disclosure agreements as below:-
Unilateral or one-way agreement- Under this agreement, only one party has the information that has to be shared with the other party before the contract is signed. The party having the information is called disclosing party and the other party is called the receiving party
Mutual or Two way agreement- Under this agreement, both the parties have the information which they share with each other. Both the parties disclose and received valuable information which they promise to keep confidential
Yes, it is advisable that a non disclosure agreement needs to be printed on a stamp paper of appropriate value and notarized by a notary public
Building professional community with a vision.