What is Non-Disclosure Agreement (NDA) in Retail? Explained

A Non-Disclosure Agreement (NDA) is a legal contract between parties to protect confidential information shared during the course of a business relationship. NDAs are commonly used in the retail industry when discussing sensitive matters such as product development, marketing strategies, or proprietary technologies with suppliers, partners, or collaborators. The agreement outlines the terms and conditions under which the parties agree not to disclose or use the confidential information for purposes other than the specified business relationship. Signing an NDA helps safeguard proprietary information and promotes trust between parties involved in various aspects of the retail business.