Non- Disclosure Agreement
Non Disclosure Agreement also known as confidentiality agreement. Such document acts like a contract between the individuals or business entities which gives protection by maintaining secrecy or confidential information.
In simple way it means, when one person or entity wants to share some confidential information with the other, they make an agreement in writing in which they share and also take oath from the other person that the information will not be leaked or shared falsely.
Use of Non-Disclosure Agreement
It is useful for all types of business:
- Small Scale Business
- Multinational corporations
- Partnership Firms
- Especially for Start ups, etc.
Frequently Asked Questions:
Does Non-Disclosure Agreement be registered?
It is not compulsory to register but at least it has to be printed on a stamp paper having minimum value of rupees hundred but it differs from state to state.
What type of information is protected in Non-Disclosure Agreement?
- Intellectual property details
- Customer information
- In case of any food product its receipe, any other product its design, etc.
- Business and account information
What if any breaches Non-Disclosure Agreement?
The person who shares confidential information inspite of non – disclosure agreement can be sued in the court of law for breaching the agreement or may be asked to pay huge damages.