Contract Glossary
Disclosure
Definition
The act of sharing information that the other party has a right to know, whether it's a conflict of interest, a known defect, or financial details. Some disclosures are legally required; others are contractually required. Hiding material information can be fraud.
In Practice
Selling a business? You'll need to disclose financial records, pending lawsuits, and known liabilities. Signing an NDA? You'll disclose what information is confidential. Entering a partnership? You should disclose any conflicts of interest. The rule is simple: if the other party would make a different decision knowing this information, you should probably disclose it.
Common in these contract types
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