The Basics of Non-Disclosure Agreements
In business, there are many situations in which you may benefit from sharing confidential information with another party on a conditional basis. For example, many businesses that operate in the Houston area and throughout the state of Texas operate using proprietary information that provides them with an advantage in the marketplace. Information that can result in a competitive advantage can take a variety of forms such as a client list. a manufacturing technique, or an analytical process. In addition, there are scenarios in which a business or an entrepreneur must describe an idea in detail to investors, manufacturers, developers, or other parties simply to explore its viability.
So, how can people in this position protect themselves while sharing the information they need to share with others in order to achieve their goals? One way is through the use of a non-disclosure agreement, or NDA. At their most basic, non-disclosure agreements are a
