Types of NDA
Posted: Wed Jan 29, 2025 10:13 am
What is an NDA agreement? There are several types, depending on how many parties are involved in the transaction.
A unilateral agreement is signed only by employees who are hired or freelancers who are to perform tasks for the company. The contract obliges the person to maintain confidentiality regarding the information that he or she gains access to during the course of work.
In a bilateral agreement, both parties professors edu email addresses undertake to keep confidential information confidential. This type of NDA is most common when companies are negotiating a merger and preparing for a deal, as well as when organizing joint projects. Sometimes an agreement is concluded to exchange a client base for marketing research or audience inquiries. This type of NDA can be used if you need to hide information about contracts, large transactions, financial obligations, and types of products.
A multilateral agreement is concluded if several participants interact in one field, for example, they need to exchange secret or exclusive developments. Also, such an agreement is signed by all parties that work for one contractor.
Legally, NDAs are rarely considered in terms of the number of parties. Typically, there are two types of NDAs: with employees and with other parties.
Stages of drafting an NDA
The text of the agreement after approval with lawyers is printed out and offered to the employee to sign. You can exchange scanned documents or conclude the agreement electronically. The services of a notary are not required, after signing by both parties, the NDA comes into force.
Stages of drafting an NDA
Source: shutterstock.com
Before offering a non-disclosure agreement, you should carefully consider its text. First, you need to check whether everything is correctly drawn up, because if there are errors and the necessary information is missing, the document will not have legal force. Therefore, it is so important to understand what an NDA is.
What you need to consider when drafting a document:
Specify the information that will be considered confidential. This should not include publicly available data.
It is necessary to determine how the information will be transmitted. For example, it could be a password-protected storage, a cloud service, or a secret chat in a messenger.
Consider all employees and partners who have access to information that you consider confidential. It is better to make a table and enter the data into a list so that in case of a leak, you can understand who caused it.
Once you have completed these steps, you can begin drafting the agreement. There is no single form for this document, but if you want to understand what an NDA agreement is, you should familiarize yourself with the procedure for drafting it:
Cap
Here you need to indicate all persons participating in signing the document. This may be not only an individual, but also an individual entrepreneur, a self-employed person or a joint-stock company. If the signing is a legal entity, then you need to indicate the last name and first name of the CEO, as well as attach a power of attorney and indicate in the header that it exists.
The date of the contract and the address of the client’s company or firm should also be indicated there.
Subject of the agreement
Here you should list the type of confidential information to which the participants have access. For example, you can write: "information about the manager's salary" without specifying the amounts and types of remuneration. We also recommend specifying "and other information not listed in the agreement."
This will protect the company in case new information appears that cannot be disclosed. To detail the information, try to draw up an appendix to the contract, where all the points will be indicated.
A unilateral agreement is signed only by employees who are hired or freelancers who are to perform tasks for the company. The contract obliges the person to maintain confidentiality regarding the information that he or she gains access to during the course of work.
In a bilateral agreement, both parties professors edu email addresses undertake to keep confidential information confidential. This type of NDA is most common when companies are negotiating a merger and preparing for a deal, as well as when organizing joint projects. Sometimes an agreement is concluded to exchange a client base for marketing research or audience inquiries. This type of NDA can be used if you need to hide information about contracts, large transactions, financial obligations, and types of products.
A multilateral agreement is concluded if several participants interact in one field, for example, they need to exchange secret or exclusive developments. Also, such an agreement is signed by all parties that work for one contractor.
Legally, NDAs are rarely considered in terms of the number of parties. Typically, there are two types of NDAs: with employees and with other parties.
Stages of drafting an NDA
The text of the agreement after approval with lawyers is printed out and offered to the employee to sign. You can exchange scanned documents or conclude the agreement electronically. The services of a notary are not required, after signing by both parties, the NDA comes into force.
Stages of drafting an NDA
Source: shutterstock.com
Before offering a non-disclosure agreement, you should carefully consider its text. First, you need to check whether everything is correctly drawn up, because if there are errors and the necessary information is missing, the document will not have legal force. Therefore, it is so important to understand what an NDA is.
What you need to consider when drafting a document:
Specify the information that will be considered confidential. This should not include publicly available data.
It is necessary to determine how the information will be transmitted. For example, it could be a password-protected storage, a cloud service, or a secret chat in a messenger.
Consider all employees and partners who have access to information that you consider confidential. It is better to make a table and enter the data into a list so that in case of a leak, you can understand who caused it.
Once you have completed these steps, you can begin drafting the agreement. There is no single form for this document, but if you want to understand what an NDA agreement is, you should familiarize yourself with the procedure for drafting it:
Cap
Here you need to indicate all persons participating in signing the document. This may be not only an individual, but also an individual entrepreneur, a self-employed person or a joint-stock company. If the signing is a legal entity, then you need to indicate the last name and first name of the CEO, as well as attach a power of attorney and indicate in the header that it exists.
The date of the contract and the address of the client’s company or firm should also be indicated there.
Subject of the agreement
Here you should list the type of confidential information to which the participants have access. For example, you can write: "information about the manager's salary" without specifying the amounts and types of remuneration. We also recommend specifying "and other information not listed in the agreement."
This will protect the company in case new information appears that cannot be disclosed. To detail the information, try to draw up an appendix to the contract, where all the points will be indicated.