Form NDA
Discussing a business deal? Have an idea to share but need to protect it? We’ll get you set up with a form NDA to use in any situation.
FAQ'S ON FORM NDA:
What is an NDA and why is it necessary?
An NDA, or Non-Disclosure Agreement, is a legal contract that prevents parties from disclosing information designated as confidential. NDAs are essential in protecting sensitive business information during negotiations, partnerships, or with employees and contractors. They help maintain privacy and protect competitive advantages by legally binding parties to secrecy. Most importantly, however, they often serve as the gateway to business discussions. Whether you're buying a business, selling one, or talking to a potential commercial partner, a good NDA should be simple, standard and able to be QUICKLY signed so you can get to work. An NDA should be the beginning, not the end, of a business discussion. Our form is a standard one you can re-use for multiple situations, start by filling out the form above.
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*Note that if you are looking for a confidentiality agreement to cover your employees, we would recommend going with a form more tailored to that situation, our Confidentiality and Assignment of IP Agreement.
What should be included in a robust NDA?
A robust NDA should clearly define what constitutes confidential information (usually we want this to be as broad as possible), who is involved (typically two parties in discussion), the scope of the confidentiality obligation (should you have to return or destroy all information?), and the duration the information must be kept secret (a three year period is fairly standard).
It should also outline the consequences of breaching the agreement, which should involve both damages AND "specific enforcement," or the ability to stop them from disclosing through a court injunction. Proper legal drafting ensures that your NDA covers all bases and is enforceable in a court of law. Start with our form above.
How does an NDA protect my business?
NDAs protect your business by legally preventing the other party from revealing sensitive information that could be harmful to your business interests. They are a critical tool in preserving the integrity of your business secrets and preventing potential competitive harm. Importantly, it is usually the threat of action, not the actual action, that protects you. A good NDA allows you to specifically stop someone from disclosing your information AND cover you for damages the disclosure caused you.
Can NDAs be tailored for different scenarios?
Yes. Our NDA will allow for entry of the business use on a case by case basis. This might be "entering into discussion for the purchase of a factory" or further discussing a joint venture related to a software product." That way the NDA covers the specific confidential information shared pursuant to that use. This is flexible enough to cover different use cases, but simple enough that you are using the same form each time. So whether for discussions with potential investors or new business partnerships, customizing the NDA ensures that all relevant and potential risks are adequately addressed. Get started with our form here.
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*Note that if you are looking for a confidentiality agreement to cover your employees, we would recommend going with a form more tailored to that situation, our Confidentiality and Assignment of IP Agreement.