A. An NDA is a non-disclosure agreement, otherwise known as a confidentiality agreement. The purpose of an NDA is to protect a party's information, for example, trade secrets or intellectual property. A well drafted NDA will include restrictions on how such information may be used. From a business's perspective NDAs are a useful tool in various scenarios, for example negotiating a new deal, discussions of a potential merger or sale of a business.You will also find that everyday
contracts and arrangements contain certain obligations of confidentiality, for instance in an employment contract or in a standard set of terms and conditions. They can be drafted in favour of a particular party, for example, the person disclosing the information, or they can be mutual. A duty to keep something confidential can arise without a contractual obligation but an NDA helps to prove this duty exists. NDAs should be prepared and signed before the disclosure is made.
If you would like further advice, please contact Ashley Sutherland at Hegarty Solicitors on 01733 295 553 or ashley.sutherland@hegarty.co.uk. 