NDA’s, or Non-Disclosure Agreements

NDA’s, or Non-Disclosure Agreements

NDA’s, or non-disclosure agreements, are important documents used to protect confidential information. They provide a legal framework for parties to share information in confidence, while preventing that information from being shared with third parties. NDA’s are a critical part of protecting trade secrets and other confidential information, and should be a part of any business transaction involving confidential information.

Some people sign NDA’s (and other boiler plate contracts) without giving them a good read. They are in a rush to review whatever deal is attached to.

Confidentiality-In order to review materials, NDA’s have to be signed. Sometimes time is of the essence and it is impossible to request an NDA, receive it, review it, sign it, return it and get approved afterward to be allowed to receive confidential materials.

However, there are things to look at such as what venue you have agreed to litigate in, should a dispute arise.

Everyone knows NDA’s are sort of meaningless in many contexts. Confidential information should be kept confidential, but it is not always practical. For example, what if you have to talk with a colleague or advisor about a ‘confidential’ item.

Do you have to get permission? Does everyone sign the NDA or does the company sign a blanket one? There are many grey areas. Good judgment/discretion are key.