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A perpetual non-disclosure agreement never expires whilst a non-disclosure agreement with a stated time limitation ceases to be active past the time period.There are generally two broad types of information that can be protected by a non-disclosure agreement: ordinary confidential information and trade secrets.

And if you're reviewing a third party's standard document, then it is highly likely that you will be the one giving the indemnity. There is not generally a good reason for parties to give an indemnity under an NDA and it is definitely something that warrants more careful consideration and legal advice.

A non-disclosure agreement is a legally binding contract that establishes a confidential relationship. The party or parties signing the agreement agree that sensitive information they may obtain will not be made available to any others. An NDA may also be referred to as a confidentiality agreement.

And while every non-disclosure agreement is as unique as the parties and the agreement involved, terms of 1 10 years are standard, with the duration of confidentiality lasting indefinitely on trade secrets and as long as possible (or as is necessary) for other forms of IP.

Don't forget the 'nondisclosure period': Most NDAs have a defined period of time during which confidentiality obligations will apply to confidential information. Once the period ends, your information is no longer considered confidential by the other party.

Distinguish Between Confidential Information and Trade Secrets.This is important because many NDAs have an expiration date after which the receiving party is free to use and disclose the confidential information.

NDAs are legally enforceable contracts, but they're now coming under increased scrutiny from lawmakers, attorneys and legal experts.Companies often use them as part of an employment contract or settlement agreement to protect sensitive information like trade secrets.