Definition of Confidentiality agreement:
A confidentiality agreement is a legal agreement that binds one or more parties to non-disclosure of confidential or proprietary information. A confidentiality agreement is often used in situations wherein sensitive corporate information or proprietary knowledge is not to be made available to the general public or to competitors. A non-disclosure agreement (NDA) is a particular type of confidentiality agreement.
Formal agreement under which a prospective buyer, investor, or lender undertakes to keep all oral or documented-information (provided by the seller, promoter or borrower) as strictly confidential, and to return the confidential documents upon request.
A confidentiality agreement may be contrasted with a waiver of confidentiality, whereby parties involved give up guarantees of confidentiality.
How to use Confidentiality agreement in a sentence?
- A confidentiality agreement is a legal contract or clause that is used to protect the owner proprietary or sensitive information from disclosure by others.
- Confidentiality agreements such as non-disclosure agreements (NDAs) are used to keep valuable ideas pertaining to new businesses, inventions, intellectual property, or proprietary processes from reaching the public or competitors.
- Confidentiality is also required when dealing with deals such as mergers and acquisitions, which could lead to insider trading or market manipulation if revealed before it is made public.
Meaning of Confidentiality agreement & Confidentiality agreement Definition