A non-disclosure agreement is also known as NDA or a confidentiality agreement is an important part of every business relationship. It ensures that two or more parties who have no other contractual obligations will protect confidential information that passes between them. In other words, it's essential at the outset of a deal if you're trying to protect yourself and your business ideas. What are the situations that require you to sign an NDA? In case you:
- Hire an employee that will be involved in internal processes
- Work as a broker who wants to keep insider information private
- Include the third party into business operations
- Share your business ideas and company operations with an offshore vendor
When it comes to software development, it is a common legal practice to sign NDA when you are working on a web platform, mobile app, etc. It is done to: