In these situations and more, a Mutual Non-Disclosure Agreement can help you ensure privacy and protect your information. Interested in learning about essential employment forms? Non-disclosure agreements have become very important in light of India's burgeoning outsourcing industry. In India, an NDA must be stamped to be a valid enforceable document. Use of non-disclosure agreements are on the rise in India and is governed by the Indian Contract Act 1872. Use of an NDA is crucial in many circumstances, such as to tie in employees who are developing patentable technology if the employer intends to apply for a patent. An NDA ensures that a person or organization who has access to your company’s business does not disclose proprietary information to any third party without your consent. Non disclosure agreements can also specify the terms under which the business shares this information, such as what will happen in legal proceedings, who will pay for all the expenses, and penalties for violating the agreement. If the Parties reconcile, the terms of this Agreement will remain in effect unless the Parties revoke it in writing. In legal disputes resolved by settlement, the parties often sign a confidentiality agreement relating to the terms of the settlement.