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The terms Confidentiality Agreement or Confidential Disclosure Agreement (CDA) and Non-Disclosure Agreement (NDA) are often used in quite similar contexts. Both are attempting to prevent sensitive or private information from becoming public (or publicly known by any means).

An NDA may be valid indefinitely, or for a specific period of time - it depends on the particular terms and the situation. An NDA's strength depends on your ability to enforce it. An NDA doesn't do much by itself if you don't have the resources to remedy/go after breaches (this can be time consuming and expensive).

The vast majority of settlement agreements will contain NDAs (usually referred to as a confidentiality clause in the settlement agreement). Many employers would not enter into a settlement agreement without a confidentiality clause in some form.

A good NDA should have a clause that provides for how the agreement can be terminated. The termination clause should specify: How the intention to terminate should be communicated to the other party (for example, in writing) And whether any notice period is required before termination kicks into effect.

An NDA lends security to the information you share. An MSA ensures that you and your vendor are on the same page about terms of collaboration. These two documents regulate your partnership on a large scale, without ties to the project's detailed scope of work.

Non-disclosure agreements are governed by contract law. Unlike other areas of the law and subject to a few exceptions, contract law does not provide for penalties. Even a party that willfully and intentionally breaches a contractual obligation will not be punished for it by the court.

NDAs are commonly used at technology companies when products are jointly developed.In addition to an NDA, potential investors may be asked to sign a non-compete agreement (NCA) which prevents the investor from using information acquired during negotiation to gain a competitive advantage.