A non-disclosure agreement (NDA) is a signed formal agreement between two parties. It states that one party, the Seller (that’s you if you’re selling your business), agrees to give a second party, the potential Buyer, confidential information about its business or products and the second party agrees not to share this information with anyone else for a specified period of time.
When selling businesses this is crucial to have before you commence serious discussions with any party and normally a NDA is signed after the potential buyer had read the sales teaser letter and expressed further interest.
We’ve got an example of a NDA on our Free Document Samples page.