Non disclosure agreement nda

1. Non Disclosure Agreeement (NDA) India’s #1 Incorporation Service – 125 Companies Incorporated in 2012 alone

2. NDA and its need One needs an NDA when is sharing any confidential information or data with another party, an NDA helps one to protect and safeguard the confidential information. A non disclosure agreement ensures that an employee does not disclose any information obtained by him in capacity as an employee. Whereas, a non compete agreement ensures that an employee doesnt compete with the employer, by opening or pursuing a similar business after the employee's term of employment with the employer.

3. NDA and its need (contd.) An NDA can be obtained for different kinds of confidential information, including sketches, drawings, business plans and strategies, software programs and other confidential information. The terms in a non-disclosure agreement can be included in an employment contract as a clause . Multiple NDAs can be signed with the same person, on different subjects. The process for each NDA would remain the same.

4. Legal value of an NDA ? An NDA is a binding legal contract between the parties. If either of the parties to an NDA violates the NDA, the other side is entitled to damages in the form of compensation for the loss caused

5. Violation of NDA by other party In case of violation of NDA by other party following steps should be taken: First, one should send the other side a legal notice clearly stating ones grievance and declare that unless the issue is resolved, one will take legal action. After sending a legal notice, if one does not get any result, then one needs to file a court case. But in most cases, one gets relief after sending a legal notice.

6. NDA and legal formalities Ideally, an NDA should be on Stamp Paper, but even if it is printed on the letter-head of your Company / Firm, it is admissible in the court of law. An NDA does not have to be registered. Notarization is not legally necessary, however, if the NDA is notarized, then in case a dispute arises with regard to the NDA, it is easy to substantiate ones case in a court of law. The costs for notarization however vary from city to city.

7. Termination of NDA NDA is valid perpetually, until one decides to end it. One can also mention the exact period for which one wants the NDA to be valid while filling up the form on the website. Typically, every NDA contains a provision that even post the termination of the NDA, the confidential information will continue to be protected for a fixed period or forever. This period can range from few months, to 1 or 2 years or more. It is on the Client's choice. In the meantime, one should try to get the information back from the party or insist that they destroy the information.

8. Non-circumvent agreement v/s NDA A non circumvent agreement ensures that the role of an intermediatory party is not surpassed by the other two or more parties to an agreeement , in the future. Whereas, a non disclosure agreement ensures that a party does not disclose any information to a third party.