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Information that may require NDAs includes secret recipes, proprietary formulas, and manufacturing processes. Protected information also typically includes client or sales contacts lists, non-public accounting figures, or any specific item that sets one company apart from another.

In a unilateral NDA, one party agrees not to reveal confidential information. In a mutual NDA, both sides agree that they will not share confidential information. In all other aspects, these two types of confidentiality agreements are identical, especially when it comes to enforcement and the consequences of a breach.

The NDA is common before discussions between businesses about potential joint ventures. Employees are often required to sign NDAs to protect an employer's confidential business information. An NDA may also be referred to as a confidentiality agreement.

If the discloser wishes to secure direct rights for a third party to enforce the NDA (or benefit from an indemnity in it), it is generally not necessary to state in the NDA itself that the benefit under the NDA can be freely assigned to a third party.

They are designed to protect a company's confidential information because there is a lot at stake when it comes to trade secrets. The language within the NDA must be precise so that a court can uphold any violations.

NDAs can be entered into by any individual, society, corporate bodies and anyone who is referred to as a person or separate legal entity in the eyes of law, who is willing to disclose and/or receive some confidential information to and/or from the other party to the agreement.

If one party violates an NDA, the other party can pursue legal action. First, they can file a court order instructing the party to cease disclosing or using confidential information or trade secrets. Next, the party can seek damages for the harm caused by the release of this confidential information.