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It is a legally-binding contract which governs the sharing of information between different persons or organizations and sets out any conditions or limitations on the use of the information.
You can use this agreement when you are disclosing any proprietary information having commercial value which is not yet in public domain or any other type of information that you or the other party deems it to be confidential.
It ensures that our information remains confidential. Also obtain intellectual property protection, such as a patent and keep your patent rights.
If you provide your information to another party without a Non-Disclosure Agreement, the information could be used in any way that you do not approve and you lose the ability to obtain certain forms of intellectual property protection.
It identifies the information that is to be kept confidential and stipulates how that information may be used by the recipient. It requires the recipient to take reasonable measures to keep the information confidential and prohibits them from disclosing it to any other party.