A Non-Disclosure Agreement or an NDA is a commonly used agreement which protects the privacy of documents from client’s perspective. Usually through a NDA, client is able to bind the company or consultant (as the case may be) to keep the documents, data, process, formula safe and not disclose the same to any third party for any commercial or non-commercial purpose. NDA is one of the most common ways to protect trade secrets, research innovations and information database.
NDA is usually signed when the data/details being shared is proprietary or confidential in nature. It could be signed between two or more contracting parties. Period of non-disclosure must be mentioned on the agreement and how the data/details of research will be deleted should also be usually mentioned in the agreement. NDA is usually evidenced through payment or acceptance of terms of service by the client as offered by the consultant.