A non-disclosure agreement (NDA), otherwise known as a confidentiality agreement, is a legal contract between two parties that restricts the sharing of confidential information. NDAs are commonly used in the business world to protect trade secrets, confidential business information, and other proprietary information. In Cyprus, NDAs are governed by the Contracts Law Cap.149.
There are two main types of NDAs: mutual NDAs and one-way NDAs. A mutual NDA requires both parties to keep the confidential information secret, while a one-way NDA only requires one party to keep the information secret. NDAs are often used in a variety of circumstances, including:
Business transactions: NDAs are commonly used in business transactions to protect sensitive information about the transaction, such as financial information and negotiation strategies.
Employment negotiations: NDAs are also used in employment negotiations to protect confidential information about the potential employer or employee.
Research and development: NDAs are often used in the research and development of new products or technologies to protect confidential information about the research and development process.
Intellectual property: NDAs are used to protect intellectual property rights, such as patents, trademarks, and copyrights.
You can create a mutual NDA instantly with Efkolaw by clicking here.
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