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What is a Non-Disclosure Agreement?

A form of confidentiality agreement, a Non-Disclosure Agreement (or NDA) is typically used in anticipation of two separate parties entering into business together. An NDA is not a license to use intellectual property and is not a sales agreement for the sale of property.

An NDA will define the scope of what the parties deem confidential information and will describe the obligations each respective party has towards that confidential information. Confidential information is generally defined broadly and can include how many different types of intellectual property (e.g., patents, trademarks, trade secrets or copyrights) are utilized by a company.

Further, utilizing an NDA is a good first step in ensuring you are protecting your companies trade secrets (if any).

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