starfishies
3:35
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
nondisclosure
Read a random definition: reo absente
A quick definition of nondisclosure:
Definition: Nondisclosure is when someone doesn't tell something that they should or are required to tell. It's like keeping a secret. Sometimes people make agreements to not share certain information, which is called a nondisclosure agreement.
A more thorough explanation:
Definition: Nondisclosure refers to the act of not revealing something that is required or expected to be revealed. It can also refer to an agreement between two parties to keep certain information confidential.
Examples:
- A company fails to disclose a known defect in their product to customers.
- An employee signs a nondisclosure agreement with their employer, promising not to share confidential information with anyone outside the company.
The first example illustrates how nondisclosure can be a form of fraud, as the company is intentionally hiding information that could harm their customers. The second example shows how nondisclosure agreements are commonly used in business to protect sensitive information.