A non-disclosure agreement, also known as a confidentiality agreement, is a contractual obligation between two parties that contains confidential information they wish to share or not share with one another in the course of their dealings, or in order to restrict access to that information by a third party.
This is common in business dealings between companies or partners who wish to protect certain material such as trade secrets, but have to share it with the other party in order to do business with them. It is generally recommended that this agreement be entered into prior to any confidential information being disclosed. It may also be used to prevent leaving employees from disclosing sensitive information or trade secrets.
A non-disclosure agreement is simply the pre-emptive protection of information in the form of a contractually binding document.
Answered by Lachlan McKnight
Lachlan is the CEO of LegalVision, an innovative and tech-driven law firm. LegalVision is disrupting Australia's legal industry and transforming the way in which Australian businesses access legal services. He previously worked as a corporate lawyer and investment banker in London, Paris, Amsterdam and Hong Kong. Lachlan specialises in banking and finance, capital raising and startups.
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