Non-Disclosure Agreement (NDA)

What is a Non-Disclosure Agreement (NDA)?

Also known as a confidentiality agreement, an NDA outlines the terms on which one or both parties agree to disclose confidential information to each other, for general commercial purposes. 

This is a typical arrangement to enter into at the beginning of a sales process to allow for discussions around business requirements before entering into the main agreement.

Adoptech supports the creation of reciprocal (mutual) and one-way NDAs. Answer a few questions in order to determine the appropriate NDA for your needs. It is assumed the confidential information being shared is not personal data (which would require a data-sharing agreement).

Why is a NDA important?

Help ensure your good ideas won’t be stolen by people you are negotiating with by implementing a confidentiality/non-disclosure agreement.

Keeping company information and IP confidential is important to protect your software business but you must balance this with the need to collaborate and share private information with prospective partners.

For software companies, it is good practice to ask not just prospective partners to sign an NDA but to ask developers and anybody who has access to the source code, wireframes, designs and other sensitive information.