A Non Disclosure Agreement (generally abbreviated as NDA) is a legal document – a contract – which is signed between two parties. According to the terms and conditions laid down in such paperwork, the document disallows the parties to share, disclose, reveal or impart any of the information that has been discussed between the concerned parties – the matter could be business and personal. You may also see agreement samples.
The clauses specified in an NDA are very rigid and in case the agreement is breached, legal action ensues.This is NDA example is commonly used in employment settings, and is signed by an employee and his employer. The NDA specifies clauses wherein both the parties – employee and employer – must make sure to protect the interests and assets of the company – including confidential data in any form. There are various such NDA samples easily available and downloadable online. You can also see Agreement Templates.
There are two types of Non Disclosure Agreements and they are either unilateral or bilateral. Unilateral – This is a one way agreement where one party likes to reveal a part of important information to another party but wants the party to maintain secrecy of the information that is provided. Bilateral – This a two way or mutual agreement that abides both the parties to maintain confidentiality of the information that is shared between them.
In business joint ventures the information related to design, concept or an invention are most likely to be shared between the both the parties. In such cases this type of agreement comes to existence. You may also see Contract Agreement Template Many NDA samples are available as word files for both these types and they are downloadable. By making use of these word documents a concrete NDA can be prepared by making small changes. You may also see Rental Agreement Template
The NDA should outline the information that needs to be kept confidential by the receiving party and duration of the confidentiality as well. There is no limit to items and content that can be covered under NDA. For example the company can include all the information or data that needs to be protected by the receiving party can be included in NDA. The information relating to client, technology, methodology of the solutions, business processes or strategies, knowledge provided to perform activities and financial matters are some of the commonly used content in NDA. Samples that are available in word document will help for better understanding and using the NDA. You may also see Agreement Templates
By engaging an employee to sign NDA, it prevents him from disclosing any information related to the company activities or services to its competitors. The employee acknowledges the importance of the information and his duty to keep it confidential. Since NDA is a legal document, any legal proceedings against leak of information by the receiving party can be easily managed in the law of court. The business trade secrets are the most essential information that needs to be protected; by using NDA such a protection can be achieved. Templates of NDA are available in Microsoft word doc formats for download.
The above discussion on Non disclosure agreement brings out its features and importance. To say the least, without NDA no business activities take place. In MS Word 2010 which has better and latest interface, the NDA documents can be prepared and used. Some templates that are available in word format can be copied and pasted in word document.