What is a Mutual Non Disclosure Agreement
Contract Basics At its core, a contract is the written agreement of a bargained for exchange between two parties. In any contract, there must be consideration for the agreement to be enforceable. Consideration is the underlying exchange between the parties that supports the contract. Consideration is whatever a party gives the other – money, goods, services, or promises. A mutual nondisclosure, or mutual confidentiality , agreement is just a contract where the parties are agreeing to keep certain information confidential. A mutual nondisclosure agreement (mutual NDA) is one where both parties share confidential information with the other, and each agrees to keep the other party’s information secret, so the consideration is the mutual promises that each party makes to keep the other party’s information confidential. Terms of the Mutual NDA What terms should be included in a mutual NDA? Clearly describe what information will be shared and will be considered ...