What kind of confidential information can i protect with an nda
What Kind of ConfidentialInformation can I Protect with an NDA? Shantanu 4th Yr. NLU, Odisha
Non-disclosure Agreement (NDA)• Non-disclosure Agreement is an agreement between two or more parties in which the parties share some information amongst each other and agree to maintain the confidentiality of the information.• It is also known as Confidentiality Agreement, Confidentiality Non-disclosure Agreement, Proprietary Information Exchange Agreement.
Types of NDAs (contd…)• Two types of NDAs: (i) unilateral (ii) mutual• Unilateral NDA - only one party discloses confidential information to the other party and then the other party promises to keep that information secret.
Types of NDAs (contd…)• Mutual NDA - both parties share confidential information with each other and vouch for the nondisclosure of such information to any other party.
Confidential Information (contd…)• The information must be confidential to be protected under an NDA.• The information is not confidential if:• (i) was lawfully possessed by the receiver before the agreement was entered into; (ii) has been rightfully received from some third party;
Confidential Information (iii) is generally known by the public; (iv) is required to be disclosed by law; and (v) is or has been independently developedby the receiving party.
Commercial Information• The information which is sought to be protected under an NDA must be of some financial value to the party possessing it.• The original party discloses the information for the fact that without any such disclosure the contract could not be effectively executed.