A Non Disclosure Agreement (NDA) is a really important legally binding contract between two or more parties. Its purpose is to prevent the disclosure of certain confidential information further than those parties. They can be one way (i.e. impose an obligation on one party alone) or two-way (both parties have certain obligations).
Before disclosing any confidential information, a NDA is highly recommended and in some circumstances required to meet professional regulations. Either that you are obliged to keep confidential in the first place – e.g. client records, customer information, bank and credit card details, etc.
If you have a great new idea and want to be first to market, you would be wise to get anyone that comes in contact with the idea to sign an NDA.
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