Non-disclosure Agreement (NDA)

Is a legal contract between two or more parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties. An NDA creates a confidential relationship between the parties to protect any type of confidential and proprietary information or trade secrets. This type of agreement is common in business relationships where sensitive information is exchanged, such as between a company and potential investors, or between a business and a contractor or consultant.