Mutual Non-Disclosure Agreement

A Confidentiality Agreement (NDA), also known as a Confidentiality Agreement (CA), Confidential Disclosure Agreement (CDA), Intellectual Property Information Agreement (PIA) or Confidentiality Agreement (SA), is a legal contract or part of a contract between at least two parties that describes confidential information, knowledge or information that the parties wish to share with each other for specific purposes. , but which limit access. Physician-patient confidentiality (doctor-patient privilege-privilege), solicitor-client privilege, priestly privilege, bank client confidentiality and kickback agreements are examples of NDAs that are often not enshrined in a written contract between the parties. Just because it is usually used by companies does not mean that it can only be used by them. This type of agreement can also be used by an individual. For example, if someone has a secret recipe that they have created with another party and wants to make sure it is protected, they can make that kind of arrangement to ensure that the recipe is not shared with other parties. The most common situation for the application of a mutual confidentiality agreement is between two companies. An example of this would be for the two companies to work together to bring a new product to market and to protect each other`s interests. A confidentiality agreement can protect any type of information that is not known to all.

However, confidentiality agreements may also contain clauses protecting the person receiving the information, so that if they legally receive the information through other sources, they would not be required to keep that information secret. [5] In other words, the confidentiality agreement generally requires that the receiving party process confidential information only if that information has been transmitted directly by the publishing party. However, it is sometimes easier to get a recipient party to sign a simple agreement, which is shorter, less complex and does not contain security rules to protect the recipient. [Citation required] One of the main reasons why people like to use reciprocal confidentiality agreements is that they have proprietary information or business secrets that they want to protect. This information is usually very valuable to its owner. In addition, the information could be destroyed or reduced if it is disclosed to others. This makes it important to protect the dissemination of information and to set certain restrictions.