A confidentiality agreement is a legal contract that requires one or more parties to non-disclosure of confidential or proprietary information. When sensitive business information or private data is not to be shared with the general public or adversaries, a confidentiality agreement is commonly utilized. It's also a crucial document between two organizations discussing a merger or a business transaction that has to remain confidential. Any employee with access to sensitive information is frequently compelled to sign a confidentiality agreement to protect the company from the exposure of competitive information that might damage the business. A Non-Disclosure Agreement (NDA) is a specific kind of confidentiality agreement. A confidentiality agreement differs from a waiver of confidentiality, in which the parties involved relinquish confidentiality commitments. The agreement can be unilateral (one party signs), bilateral (both parties sign), or multilateral (many parties will have access to sensitive information). Confidentiality agreements can be tailored to the specifics of the situation.
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