What is Non-Disclosure Agreement in SAP CEC-SAL-CLM - Contract Lifecycle Management?

SAP Term: Non-Disclosure Agreement

• Component: CEC-SAL-CLM

• Component Name: Contract Lifecycle Management

• Description: Contract through which the parties agree not to disclose information covered by the agreement.

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• Key Concepts: 
  A Non-Disclosure Agreement (NDA) is a legally binding contract between two or more parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties. In the context of SAP Contract Lifecycle Management (CEC-SAL-CLM), an NDA is used to protect confidential information shared between two or more parties during the negotiation and execution of a contract. 
  
  How to use it: 
  In SAP CEC-SAL-CLM, an NDA can be created and managed in the system. The NDA document can be created in the system and stored in the system for future reference. The NDA document can also be shared with other parties involved in the contract negotiation and execution process. 
  
  Tips & Tricks: 
  When creating an NDA in SAP CEC-SAL-CLM, it is important to ensure that all relevant information is included in the document. This includes details such as the purpose of the agreement, the scope of confidential information to be shared, and any restrictions on how the information can be used. It is also important to ensure that all parties involved in the agreement are aware of their obligations under the agreement. 
  
  Related Information: 
  For more information on NDAs and how they are used in SAP CEC-SAL-CLM, please refer to SAP’s official documentation on Contract Lifecycle Management.