A Non-Disclosure Agreement (NDA) is a legally binding contract that establishes a confidential relationship between two or more parties. The purpose of an NDA is to ensure that certain information will remain confidential and not be disclosed to unauthorized parties. NDAs are used in a variety of situations, such as when two companies enter into discussions about doing business together but want to protect their own interests and the details of any potential deal. NDAs can also be used to protect trade secrets when information is shared during the regular course of business.

An NDA typically includes the following key elements:

• Identification of the participants
• Definition of what is considered to be confidential
• Duration of the confidentiality commitment
• Obligations of the parties involved
• Exclusions from confidential protection

NDAs can be tricky and must be taken very seriously because the language within the NDA must be precise so that a court can uphold any violations. The cost of creating an NDA typically ranges from $175 to $1,500, depending on the complexity of the agreement.

An NDA template is a pre-written agreement that can be used as a starting point for creating a unique NDA between two or more parties that is applicable to their specific situation. NDAs can be found online or created by legal teams.

In summary, an NDA is a legal document that establishes a confidential relationship between two or more parties and is used to protect sensitive information and intellectual property.