Nondisclosure agreements are used between parties when one or both parties are in possession of information they consider proprietary, or rather, would like to protect that information because the disclosure of it would disadvantage the individual whose information is disclosed or give another individual an advantage. Examples of this information include client lists, business methods, rate sheets, and design information. The nondisclosure agreement is a contractual relationship between the parties who wish to share proprietary information for the sake of doing business. The Nondisclosure agreement describes what is proprietary, how that information is identified and stored, and what are the potential consequences of improper disclosure of the proprietary information.
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