Reasons you may need a Mutual Nondisclosure Agreement
It’s important to remember that the best way to keep something secret, is to keep it to yourself. So, always try to limit how much information is shared and with whom. When that can’t be done, an NDA is your next best protection. Let’s start with the basics. What is a nondisclosure agreement ( NDA )? Simply put, it is exactly what it sounds like — an agreement between parties to keep information confidential. So, what makes it mutual? A mutual nondisclosure agreement is one where both parties share confidential information with the other, and each agrees to keep the other party’s information secret. What goes into a mutual NDA ? Clearly describe what information will be shared and will be considered confidential for each party. Explain what is NOT considered confidential information. Describe why the information is being shared and how the information may be used by the other party. Clearly state the length of term of the agreement — and what must be done w...