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Q: Keeping it Confidential: What makes up an NDA?
In business, it is important to keep your trade secrets under lock and key so that you can keep protecting your organization’s essential assets. This is where a key component like Non-Disclosure Agreements (NDAs) come into play. NDAs are a common legal contract that ensures your information protected. To better understand, we list some key elements that make up a NDA.
- The term of the agreement
- The identification of the parties involved
- A specific definition or parameters of what is considered to be confidential
- The scope of the confidentiality requirement by the receiving party
- Any and all exclusions from confidential treatment
With an NDA there may be other provisions and clauses you may want to add in addition to the key components listed above, in order to further protect confidentiality or help avoid future complications. Speak to your trusted legal advisor to tailor this contract to fit your exact needs.