What are the penalties for non-disclosure?
Penalties for non-disclosure can vary based on the agreement, but they often include financial damages, legal action, or loss of business opportunities.
Can you give me examples of financial damages?
Sure! Financial damages can include compensation for lost profits, reimbursement for legal fees, or punitive damages if the breach was willful.
What if the non-disclosure agreement is not legally binding?
If the NDA is not legally binding, the penalties may be less severe, but you could still face reputational damage or loss of trust.
How can I protect myself when signing an NDA?
To protect yourself, ensure you fully understand the terms, consult a lawyer, and negotiate any clauses that seem unfair.
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