Having a proper NDA to outline the confidential information being shared by multiple parties is important to ensure that no one discloses any sensitive sensitive information.
But first you’ll need to figure out whether you need a unilateral NDA or a bilateral NDA. A unilateral NDA is basically when one party would like to disclose certain information to another party and wants to make sure the other party does not take and use the disclosed information.
The other option is called a bilateral NDA and that is where both parties supplies information that is supposed to remain a secret. These agreements are common for businesses that are considering a merger of some sort.
Many attorneys advise on a mutual NDA in all cases in order to draft the provisions to be fair and equal for both sides in the event that the information receiving party later becomes a disclosing party.
If you’re looking for lawyers with experience drafting NDA’s for tech businesses, then feel free to check out
Full disclosure: I am the CEO of LawTrades but we often use the service ourselves for our business legal needs since it’s cheaper and faster than the traditional law firm route.
Happy to answer any further questions you may have about NDA’s 🙂