Confidentiality obligations can arise at common law and may be implied into an agreement. However, instead of seeking to establish that an obligation of confidence has arisen at common law, and that this has been breached, it is far better to enter into a confidentiality agreement, or non-disclosure agreement (NDA), which creates contractual obligations between the parties to it.
The contractual restrictions contained in an NDA will vary according to the nature of the information and the purpose of its disclosure, but it will almost always include provisions governing the use of the confidential information and the conditions under which it must be returned to the disclosing party.
A Non-Disclosure Agreement is used to protect trade secrets. A trade secret is any type of information that is not generally known by the public and from which actual or potential economic value can be derived.A Non-Disclosure Agreement is also used in common business transactions where any confidential or proprietary information is shared
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