smilesarepriceless
Gold Member
- 551
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
NDA stands for Non-Disclosure Agreement, which is a legally binding contract between two parties that outlines confidential information that must be kept secret and not shared with anyone else. It is important because it protects sensitive information and trade secrets from being disclosed to competitors or the public.
Anyone who will have access to confidential information or who will be working closely with the company should sign the NDA. This includes employees, contractors, partners, and sometimes even clients.
If someone violates the NDA, they can face legal consequences such as lawsuits and monetary damages. They may also face damage to their reputation and future job opportunities.
The NDA typically lasts for a specific period of time, often 1-5 years, but this can vary depending on the terms outlined in the agreement. Some NDAs may also have no expiration date and remain in effect indefinitely.
The NDA can be modified or terminated if both parties agree to the changes. This should be done in writing and signed by both parties. If one party wishes to terminate the NDA, they must provide written notice to the other party.