Non-Disclosure agreement for selling a business in Australia.

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The main purpose of the non disclosure agreement is to protect the confidentiality of your business details and keeep sensitive information secure. Before passing on detalied financial information, staff details, or information about your products or services you should make sure that your prospective buyer has signed the non disclosure statement. Any buyers that are duboius about committing to signing are normally not serious buyers.

The non disclosure statement will normally request detalied personal information about the buyer and will bind the interested party to keep any information safe. The agreement will make it clear that any information provided to the buyer from the seller must not be disclosed to any third party.   

A non-disclosure agreement (NDA), also known as a confidentiality agreement or confidential disclosure agreement (CDA) is a legally binding contract between at least two parties which outlines confidential information or knowledge the parties wish to share with one another but do not wish to make generally available. In other words, it is a contract through which the parties agree not to disclose information covered by the agreement.

An NDA creates a confidential relationship between the parties to protect any company information or type of trade secret. As such, an NDA can protect non-public business information. NDAs are commonly signed when two companies or individuals are considering doing business together and need to understand the processes used in one another's businesses solely for the purpose of evaluating the potential business relationship.

NDAs can be "mutual", meaning both parties are restricted in their use of the materials provided, or they can only restrict a single party.

NDAs are alos issued to employees in certain cases to protect company trade secrets and practices.