… you are in a hurry (fewer questions)
… you consider doing business and both paties need to access confidential information about each other
A confidentiality agreement (also known as a non-disclosure agreement or “NDA”) is an agreement between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share for certain purposes but wish to restrict access to or by third parties.
NDAs’ key terms include who the information may be shared with – often on a “need to know” basis, for what purpose, the restrictions on its use and how long the parties should keep the information secret, even after the discussions have been terminated.
NDAs can be one-way (unilateral), where only one party is disclosing confidential material, or two-ways (mutual), that is both (or more than two) parties share information about themselves.
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