Things every client should understand about intellectual property agreements

Nondisclosure agreements (NDA’s).

The heart of a nondisclosure agreement (commonly referred to as an “NDA” or “Confidentiality Agreement”) is apparent from its name. Typically, two companies have commenced a dialogue about the possibility of entering into a substantial contract of some kind. To facilitate the negotiation, each company would like to disclose certain kinds of sensitive information to the other party. However, if the deal falls through, each would like to have the assurance that any information disclosed pursuant to the nondisclosure agreement will not be used for any other purpose.