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In total, there are 5 reasons to have your freelancer sign an NDA (Non-Disclosure Agreement)/CDA(Confidential Disclosure Agreement)/or CA(Confidentiality Agreement). You can identify a non-disclosure agreement with other names like: And even if you don`t have a specific reason to need it now, it`s still a good idea to have an NDA handy for your business (you never know what might happen!). While there`s nothing stopping them from saying they have a lower offer elsewhere, you don`t want them to divulge actual data or even your company name, especially to a competitor. A lot of financial and corporate information is shared during discussions – protect your company`s sensitive information with an NDA. If you do not have a Non-Disclosure Agreement (NDA), you run the risk of revealing confidential information, which can result in a loss of money, intellectual property rights, or any other impact on your business. Without NDA, you may not have a cure or a way to impose consequences. The freelancer has no clarity about what information needs to be protected and how to use it, before and after the end of the project. When should you sign an NDA? In general, an NDA makes sense whenever you want to share something valuable about your business and make sure the other party doesn`t use or steal it directly without your consent. Here are five situations that require a non-disclosure agreement. To maintain a competitive advantage, companies need to keep work projects, innovative ideas or exciting new products secret so that they don`t fall into the hands of a competitor. Similarly, start-ups with a new and profitable idea can only succeed if what they are working on remains secret. A non-disclosure agreement (NDA) is a legally favorable document that keeps this sensitive information under control.

These agreements can also be referred to as confidentiality agreements (CAs), confidentiality agreements, or confidentiality clauses in a larger legal document. A unilateral agreement binds one party, often the company itself. The majority of non-disclosure agreements are unilateral agreements, as they often affect the company`s employees, suppliers or customers. While most unilateral agreements are designed to protect a company`s trade secrets, they can also protect copyright. .