What is an NDA?
An NDA (Non Disclosure Agreement) is a way to share your sensitive information while protecting your ideas and your know-how.
An NDA is called in many ways: Confidentiality Agreement, Secrecy agreement, Privacy agreement, Non Disclosure Agreement.
It is a legal contract that should be used when sensitive information needs to be shared between two parties. It ensures that the person or organization that has access to the sensitive information does not disclose it to a third party.
For this reason, companies and individuals who work with us and use our services often ask to sign a Confidentiality Agreement. This ensures the protection of their intellectual property rights and the confidentiality of their business processes.
An NDA consists of the following parts:
• Choice between unilaterality or bilaterality of the covenant
• Purpose
• Duration
• Sharing with third parties
When to use
an NDA?
You may request to use an NDA when there is a need to protect your intellectual property rights and maintain confidentiality about your business processes. It is used to protect an idea, a project, or to conduct negotiations in which you share confidential information with others. This can occur when dealing with potential partners (such as suppliers, manufacturers, or investors) or in all cases where a project or contract is being discussed.
The Non Disclosure Agreement also includes a prohibition on the use of the information by the recipient. This means that those who receive confidential information cannot use it directly even if they do not share it with anyone.
An example of an NDA violation is someone who, for business reasons, knows the details of an invention under development and uses that information to patent a similar idea in his or her name.
Compass DMH projects are obligated to:
• To treat the Confidential Information received as strictly private and to implement appropriate precautions and security measures in order to keep it confidential, preventing access, theft and/or manipulation of the same, also by its employees and/or collaborators.
• Not to disclose any of the Confidential Information to any third party unless expressly authorized, and to use the Confidential Information solely for the purpose of providing the agreed services.
• Return to the Disclosing Party upon its simple written request all writings, drawings, printed matter, audio/video recordings and anything else materially related to the Confidential Information provided to it.
