A Non-Disclosure Agreement (NDA), also referred to as a Confidentiality Agreement, creates a legally binding obligation between parties to keep certain information that is shared between them protected. When evaluating a potential business relationship, you should always execute an NDA prior to sharing any secret, sensitive, or private information. If you wouldn’t want it plastered on a billboard, don’t hand it over without an NDA!
So now that you know an NDA is important, you should go ahead and sign it, right?
You should always treat each NDA as a unique contract, and you should never sign one without reviewing it first to make sure it doesn’t contain any bad terms.
Here are some key things to look for:
Even once you are confident that your NDA is satisfactory, asking a seasoned attorney to perform a quick review before you sign will provide you with excellent insurance that you are good to go.
Andrea A. Tarshus, Esq. began Tarshus Law Firm @Tarshuslaw.com in 2015 to fill a void in the legal ecosystem: efficient, accessible, and fair in-house and General Counsel legal services for business owners. Her engagements regularly include business legal startup paperwork, negotiating and executing contracts, administering internal legal and operational controls, and creating legal documents that protect the company's best interests.
This article is intended to be informational in nature, should not be relied upon by the reader without consultation with an attorney, and does not create an attorney-client relationship between the author and reader.
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