Small business NDA’s come up a lot at our firm. NDA stands for Non-Disclosure Agreement. It is a legal document entered into between two or more parties that outlines confidential information about the parties shared within the contract and restricts either party from disclosing the same to third parties.
Sensitive or confidential information includes information like manufacturing processes, secret recipes, formulae, innovative ideas, client lists, sales contracts, etc. It doesn’t include such information, which is or should be out there in the public domain.
There are many instances when business owners (big or small), need to discuss sensitive trade information
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