One commonly used tool is the non-disclosure agreement (NDA), also known as a confidential or trade secret agreement. An NDA is a legally binding contract that requires parties to keep confidentiality for a defined period of time. It’s up to the parties to decide what would be considered confidential and what is not. Some of the key elements required in NDA are: Identification of the parties, Definition of what is deemed to be confidential, The scope of the confidentiality obligation by the receiving party, The exclusions from confidential treatment, The term of the agreement.