The purpose of the NDA is to protect the contracting parties’ confidential information. Confidential information is information that a company wishes to keep secret because it provides the company with a competitive advantage in the marketplace.
Confidentiality obligations associated with the receipt and handling of a customer's (or other party's) confidential information require careful review. If the information is not received under appropriate terms, (i) the disclosing party’s confidential information may not be fully protected and could, inadvertently or not, be made public or disseminated to a competitor and/or (ii) the obligations imposed may create substantial liability exposures that impair the receiving party’s freedom of action to develop, manufacture, and market its products and services.
Our consultants work with our clients to understand their products and services and help draft and negotiate NDAs which best protect their interests.