My answer to Non-Disclosure Agreements: Should I sign an NDA?
Answer by Raad Ahmed:
When it comes to signing an NDA, don’t focus on whether or not you should be offended. It’s just part of doing business, especially during the early stages. It establishes early on that there is certain information that shouldn’t be exchanged and protects the business. However, the thing you want to focus on are the clauses, definitions, and meaning of the NDA. You don’t want to get yourself in a tight situation by signing something you don’t understand or agree with.
Before signing an NDA, consider this:
- See if it is clear who is protected in the agreement
- Make sure that you understand any exclusions
- Be aware of any residual clauses
- Understand how the information will be used
- Know what the confidentiality definition indicates
- Be clear about how information will be used
It’s important that you understand the document completely before signing. To ensure that you aren’t getting yourself in a messy situation, it’s best to consult a business attorney that specializes in NDAs.
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