There may be no more critical tool for new companies and inventors than a solid nondisclosure agreement. Generally speaking, standard nondisclosure agreements allow a company to share secret information with other parties while legally prohibiting those parties from spreading the information to a wider audience. Nondisclosure agreements (also known as NDAs) can be used for a variety of purposes, including dissemination of financial information, marketing plans, new technologies, or confidential business processes. NDAs are especially important when a company or entrepreneur is trying to protect their trade secrets. Legally speaking, trade secrets consist of any information that: (1) derives independent…
