To maintain a competitive advantage, companies need to keep work projects, innovative ideas or exciting new products secret so that they don`t fall into the hands of a competitor. Similarly, start-ups with a new and profitable idea can only succeed if what they are working on remains secret. A non-disclosure agreement (NDA) is a legally favorable document that keeps this sensitive information under control. These agreements can also be referred to as confidentiality agreements (CAs), confidentiality agreements, or confidentiality clauses in a larger legal document. If you regularly pay attention to the news cycle (or network television policing procedures), you`ve probably noticed that a legal term keeps poping up: non-disclosure agreements, or NDAs.
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