this type of arrangement may also be called a joint venture agreement or mutual cooperation agreement. mutual business agreements vary based on the type of transactions they govern. a mutual non-disclosure agreement (nda) binds the parties to keep confidential all private information, materials, and knowledge. an nda may also be called a confidentiality agreement or a secrecy agreement. it’s a legally binding agreement on all individuals and businesses in possession of private information. some types of information cannot be protected by a mutual confidentiality agreement, including: you should also remember that an nda cannot be used to protect you against illegal activity.