Companies work with a lot of external professionals on various tasks involving skill, expertize and special knowledge. During course of such association, information like products, designs, marketing plans, finances, strategies, promotional campaigns etc. are shared with these professionals. A Non-disclosure agreement is a legal agreement that outlines the information that is confidential and restricts the disclosure of such information to third parties. These are often signed by Companies with external professionals/ other companies while discussing a potential business partnership or tie-up for a particular task. A Non-disclosure agreement typically mentions information that will be confidential, restrictions on its sharing and exceptions under which the information can be shared. It is also known as Confidentiality/Proprietary information or Secrecy Agreement.
Non-disclosure Agreement is normally required in following circumstances-