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Non-disclosure agreement elements

Question
What are the key parts of a non-disclosure agreement? 
Answer
A non-disclosure -- or confidentiality -- agreement will commonly include the following key elements:

- Names of the involved parties
- Descriptions/definitions of the confidential material or information
- Any exclusions
- The term of the agreement (typically time)
- Penalties and routes for recourse
- The obligations of the recipient relative to the information
- Types of permissible disclosure (e.g. court order or law)

Non-disclosure agreements are commonly used for employees and anyone else who might be exposed to such information. They are a necessary part of protecting intellectual property. 
Brain Trust contributor: Author of Instant Profits: Making Your Business Pay
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