NON-DISCLOSURE AGREEMENT ('NDA')
- An NDA is used to protect the secrecy of a business's confidential information that it shares with others.
- An NDA prevents unauthorised disclosure of confidential information by the receiver.
EXAMPLES OF CONFIDENTIAL INFORMATION
Examples of of a business's confidential information include its:
- business/marketing plans
- customer lists
- developments
- innovations
- know-how
- financial information
4 SITUATIONS AN NDA IS USED TO PROTECT CONFIDENTIAL INFORMATION
- WHEN pitching your business idea to potential investors and sensitive and confidential information may need to be disclosed.
- WHEN you want to engage services from others (such as consultants) who will be provided with your business's confidential information.
- WHEN you want to work together with another business (eg. joint venture) and confidential information is shared during discussions.
- WHEN selling a business, where financial or other confidential information may be shared with the acquiring party.
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Originally published 04 August 2022
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.