What is a nondisclosure agreement?

A nondisclosure agreement (NDA) is a legally binding contract between two or more parties that protects confidential information from being shared with third parties. Under an NDA, the parties involved agree to not disclose any information that the other party has identified as confidential. In Oregon, NDAs are most often used in the context of art law. For example, if an artist is working with a museum or gallery to display their work, the museum or gallery might request that the artist sign an NDA to protect any proprietary information that the gallery or museum would like to keep confidential. This could include information regarding sales, marketing, or any internal processes that the museum or gallery would not want shared with other parties. NDAs are also common in the art world when parties are negotiating the payment of a purchase of artwork, as both parties may wish to keep the details of the transaction private.

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What is a nondisclosure agreement?

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