Non-disclosure agreements (NDAs) and confidentiality agreements are used to protect sensitive information that is shared between parties. These agreements are commonly used in business transactions where one party shares confidential information with another party, such as in a merger or acquisition, a joint venture, or a partnership.
The purpose of an NDA or confidentiality agreement is to ensure that the recipient of the information does not disclose it to third parties or use it for their own benefit. This is important because the information being shared may be critical to the success of the business transaction or may contain valuable intellectual property that the owner wishes to protect
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By signing an NDA or confidentiality agreement, the recipient agrees to keep the information confidential and not to disclose it to anyone else without the owner's permission. If the recipient breaches the agreement, they may be liable for damages or other legal consequences.
