From the course: Understanding Confidentiality and Nondisclosure Agreements
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The basics of nondisclosure or confidentiality agreements
From the course: Understanding Confidentiality and Nondisclosure Agreements
The basics of nondisclosure or confidentiality agreements
- Confidentiality agreements, often referred to as NDAs, or CAs, are agreements that restrict the use and disclosure of certain information. They're crafted to protect the information in a way that will conform to trade secret laws. What does that mean? Trade secret laws tell us what kind of information can be protected, and what can legally be considered a secret, and what type of information cannot be protected. Therefore, any agreement that aims to protect a secret needs to follow some basic rules. The first rule is that the confidentiality agreement can not protect information that's public knowledge. That means if the information is public already, an agreement can't claim to stop someone from disclosing it. This may sound obvious, but business people can be overprotective of their ideas and if they could, they would have people signing contracts that protect any information that's shared. To keep that from…
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