A Non-disclosure Agreement (“NDA”) is an agreement between a disclosing party (or parties) and a receiving party (or parties). This agreement imposes certain confidentiality obligations on the other party (or parties). An NDA also sets exceptions, a term, and consequences of a breach of those obligations. NDAs are something many startups and small businesses will come across at least once. Any startup or business should have one in their files to use, if necessary.