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Confidentiality agreements, or non-disclosure agreements (NDAs), are essential when sharing sensitive, non-public information with third parties, typically occurring during early discussions of potential business arrangements. Key provisions in these agreements include determining whether one or both parties will disclose sensitive information, and drafting the agreement accordingly. It is crucial to clearly define what constitutes confidential information, which should include secret or proprietary data related to the disclosing party's business. However, it should exclude information that is public, already known to the receiving party, or obtained from a third party without a confidentiality obligation.