A Non-Disclosure Agreement Form or NDA Form is a legal contract between two or more parties that summarizes confidential information that the parties wish to share with each another, but wish to restrict access to any other party.
Through Non-Disclosure Agreement Forms, information shared between two or more entities becomes confidential. Certain confidential information includes proprietary and technological information, trade secrets and nonpublic business information.
A Non-Disclosure Agreement Form does not create any partnership or joint venture between the parties. Non-Disclosure Agreement Forms protect confidential information that may be released when sharing information between the parties.
An NDA form at times may also be called a Confidentiality Agreement, Confidential Disclosure Agreement, Proprietary Information Agreement or a Secrecy Agreement.
Many companies ask their employees to sign a Non-Disclosure Agreement Form to protect company trade secrets and proprietary information.
A couple of examples of when to use an NDA Form include, but are definitely not limited to: inventors that do not hold a patent on their invention may ask a lender or business to sign a Non-Disclosure Agreement Form when showing the invention to the potential client and a business offering to buy a competitor will sign an NDA Form to not divulge any confidential information.
Key Provisions of Non-Disclosure Agreement Forms include:
- The definition and description of the confidential information.
- The Non Disclosure Agreement form does not transfer any license or partnership between the two parties.
- Scope of limitations of the NDA and prevention of disclosure.
- The time frame of the agreement and details concerning what course of action to take when the Non Disclosure Agreement is over.
- Cure for any breach in disclosure of the confidential information.
Our free DIY Non-Disclosure Agreement forms help protect your rights when divulging confidential information to others.
Safeguard your trade secrets with our Free Non-Disclosure Agreement template online.