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Nondisclosure Agreements Overview

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Have you ever done work for someone, only to have to realize that the person you are working with needs to provide you with vitally important information that was to be held in the strictest of confidence? Or perhaps you signed a contract to do some kind of project, only to find out later the person had to give you confidential information? If this is the case you probably had to fill out and sign some kind of nondisclosure agreement (NDA), otherwise you wouldn't be able to carry out the terms of the contract. If you are not one of these people or never faced this kind of situation, you are lucky. However, it would be good for you to know what a nondisclosure agreement is so if you do happen to get involved with a situation that required one, you will know about them. Nondisclosure agreements are used for the following reasons:

• Protect trade secrets: People use nondisclosure agreements (NDA) for many reasons, one of which is to protect trade secrets. If you are working with someone who shares confidential information that with you, that person will no doubt demand that you sign a nondisclosure agreement to protect him and you. This way no one will know what the guy is doing until he is ready to reveal it.
• Confidential relationship: Besides protecting any type of trade secrets, nondisclosure agreements also are used to create a confidential relationship between the person who owns the trade secret and the person who receives the secret. This is actually the main purpose for a NDA.

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