trúnaðarsamningur

Trúnaðarsamningur is an Icelandic term that translates to "confidentiality agreement" or "non-disclosure agreement" (NDA) in English. It is a legally binding contract that establishes a confidential relationship between two or more parties. The primary purpose of a trúnaðarsamningur is to protect sensitive information that may be shared between the parties during business dealings, negotiations, or employment.

This type of agreement typically outlines what information is considered confidential, the restrictions on how that information can be used or disclosed, and the duration of the confidentiality obligation. Information covered can include trade secrets, proprietary business plans, financial data, customer lists, technical specifications, and any other information that is not publicly known and provides a competitive advantage.

Parties entering into a trúnaðarsamningur are obligated to keep the designated information secret and not to use it for their own benefit or the benefit of any third party, except as expressly permitted by the agreement. Breaching a trúnaðarsamningur can lead to legal consequences, including financial damages and injunctions. These agreements are commonly used in various contexts, such as mergers and acquisitions, employment relationships, and collaborations between businesses. The specific terms and enforceability of a trúnaðarsamningur are governed by Icelandic law.