An effective nondisclosure agreement (NDA) provides comfort when two parties need to exchange information that could otherwise put them at a serious disadvantage if disclosed. This is a critical element of discussions between two companies leading up to teaming arrangements, vendor selection, and acquisitions. In each of these situations, the information that the receiving party most wants to see is the sort that is ordinarily most carefully protected. To be truly effective, an NDA needs certain specific provisions in addition to standard contractual language.
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