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.