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What Is a Non-Disclosure Agreement (NDA)? 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.

Legally it does not matter who signs the contract first as long as both parties agree to it. Practically speaking, it might be better to sign second. One reason for why it is argued that you should always sign second is that you will be bound by any amendments made after you sign.

You can think of the term as how long the confidential information will be protected. If you, as a business owner, are using an NDA without a term, you should expect the other party to insert a term in the agreement, often one to three years in length, depending on the nature of the transaction and market conditions.

Confidentiality agreements and NDAs offer the most surefire ways to protect trade secrets and other confidential information meant to be kept under wraps.In most cases, there's nothing wrong with signing an NDA, as long as you understand the terms and rules.

It is not illegal to 'backdate' a Non-Disclosure Agreement, but it is not exactly common practice. However, as long as both you and the other party sign, then it will be effective.

Legal entities for doing business. As mentioned earlier, if you were to sign the NDA as an individual (ie. You should also ensure that when you sign at the end of the agreement, you should state that you are signing as position or title of your company name.

Signing the NDA- As mentioned earlier, if you were to sign the NDA as an individual (ie. operating as a sole proprietor), you'll be personally liable for any potential lawsuits that arise from the agreement being breached.