What is the purpose of a confidentiality agreement?

A confidentiality agreement, also known as a non-disclosure agreement (NDA), is a legally-binding contract between two parties that requires one party to keep certain information confidential. In Washington, they are commonly used in whistleblower law. The purpose of a confidentiality agreement is to protect the confidential information of one party from being disclosed to the other. This information can include anything from trade secrets and financial information to data about a specific process or product. By signing an NDA, the disclosing party can rest assured that this information will remain confidential and will not be shared with any unauthorized third parties. A further purpose of confidentiality agreements is to protect both parties from legal liability. It is often used to protect the disclosing party from legal action should the other party breach the agreement and disclose confidential information. This can be especially important in whistleblower law, as the disclosing party needs to be sure the information they provide will remain confidential and will not be used by the other party against them. Finally, confidentiality agreements are also used to ensure that the parties are in agreement as to what information is confidential, how it should be protected, and the consequences for a breach of the agreement. By signing an agreement, both parties agree to these conditions and are legally obligated to follow them. This provides important legal protection for the disclosing party, and in some cases, for the receiving party as well.

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What is the purpose of a confidentiality agreement?

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