By Amaan Gangji
A Non-Disclosure Agreement (“NDA”) is often the first agreement entered into in an M&A transaction. During the initial stages of a proposed transaction the parties will exchange confidential information in connection with the consideration and negotiation of the proposed transaction. An NDA is designed to protect confidential information from being misused and disclosed to the public. Ideally, any party providing confidential information should ensure that an NDA is in place prior to any exchange of confidential information. This applies to transactions of all sizes.