An NDA is a binding agreement between two (or more) parties that obligates a party or parties to maintain confidentiality. The confidentiality obligations can be mutual or uni-directional (one-way). Other provisions include exceptions to confidentiality, how long the obligations last, and what happens if someone breaches their obligations. It is a widely used document and something many startups and small businesses will come across at least once. This document should be in your files and ready to use with prospective business partners, vendors, contractors, employees, and others if necessary.