Document Type: DOCX
Number of Pages: 3
A Confidentiality Agreement is a legally binding contract between two or more parties where one or more agrees to keep certain information private, secure, and not to be disclosed to others without permission.It is commonly used in business, employment, partnerships, and project collaborations to protect sensitive or proprietary information.The main purposes of a Confidentiality Agreement include:1. Prevents trade secrets, business strategies, customer data, financials, or intellectual property from being leaked or misused.2. Clearly defines what information is confidential and the responsibilities of the party receiving the information.3. Encourages openness during negotiations, partnerships, or hiring, since both parties know confidential information is legally protected.4. Stops employees, contractors, or business partners from using confidential data to compete unfairly.5. Provides a legal basis to sue or take action if someone breaches confidentiality.Download a sample template here on Sheriaplex.com
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