Non Disclosure Agreement
Non-disclosure Agreement popularly known as NDA is a legally bonded documented contract between two parties. In the NDA, the party signing the NDA agrees that the information shared with them will not be disclosed as the information stays confidential. It is also known as a confidentiality agreement. NDAs are common in the business process when a new client becomes part of an organization receives a certain kind of service that needs data or information of the client.
For example, implementing CRM software for the client might need the database of the client, in this case, NDA is signed by the service provider and provided to the client. It acknowledges the legal trust between them and protects the information at the same time. In some organizations, employees are also required to sign an NDA to protect employer’s confidential information.