• November 2019
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NDA

nda blur

Protect your ideas.

Create a NDA to prevent the disclosure of confidential and sensitive information with a LawTrades attorney.

– Ensure compliance

– Learn about other forms of IP

– Saves you time


Why get an NDA

Trade secrets and intellectual property can be the most valuable assets for a company. Therefore, it’s worth drafting a strong agreement to protect them. A non-disclosure agreement (NDA) does just that. It is a legally binding contract in which a person / business promises to treat specific information as a trade secret and not disclose it to others. You may run into even more names for this type of agreement, such as a confidentiality agreement, proprietary information agreement, secrecy agreement, and confidential disclosure agreement. NDA lawyers can help you craft this agreement.

The name doesn’t matter; what does make a difference is that your agreement contains the necessary components. NDA provisions must be narrowly tailored to serve the legitimate interests of a business. Overreaching can result in the agreement being invalidated, so skilled drafting is essential to ensuring a legally enforceable contract. State law varies widely on the mechanics and validity of NDAs. Using qualified legal counsel to help you draft your NDA is strongly advised.

The benefits
It ensures compliance

Doing it yourself opens the door for mistakes. What appears as an unnecessary expense can ultimately save you money when you consider the cost of a clean up project.

It saves you time

Drafting a bulletproof NDA can take some time, especially if you’ve never done it before. As a business owner, you need to continue growing your company and leave the legal stuff to the legal experts and let LawTrades NDA lawyers assist you.

Learn about other forms of IP

Chances are your company has valuable intellectual property. By hiring an NDA lawyer, you’ll have the ability to learn about how and when to protect your IP.


FAQ


What is a trade secret?

A trade secret is any confidential business information which provides a company a competitive edge.

What provisions are commonly found within an NDA?

It’s important for an NDA to explain which information is confidential. A well-written NDA should also include the term of the agreement, the jurisdiction of the agreement, the purpose for disclosure, and ownership of the trade secrets. NDAs may also include non-solicitation and non-circumvention clauses. Non-solicitation clauses can apply to customers and employees. Non-circumvention clauses protect entrepreneurs from others acting on their idea without acknowledging or compensating the entrepreneur.

What’s the difference between a unilateral NDA and a bilateral NDA?

What provisions are A unilateral NDA (also referred to as a one-way NDA) is when the receiving party of the confidential information is bound to protect such information. On the other hand, a bilateral NDA is when both parties supply information and agree to keep it a secret. These agreements are common for businesses that are considering a merger of some sort. Many NDA lawyers advise on a mutual NDA in all cases in order to draft the provisions to be equitable for both sides in the event the information-receiving party later becomes a disclosing party. found within an NDA?

When does an NDA end?

The term of an NDA is typically one to three years, but it depends on the industry in which it operates. An NDA may also end if the company fails to keep the information confidential.

Can I use a free NDA that I found online?

It’s possible the NDA will protect your company against disclosure. But it’s also possible that, like many free templates you’ll come across online, it’s unenforceable. When dealing with valuable assets like trade secrets it’s not worth the possibility of having an unenforceable contract. It’s always useful to consult with a business contract lawyer if you have further questions.


Reviews 

 


Daniel, H. | ★★★★★

“Simple and trustworthy system. The project manager through text message is a good idea and helps a lot with the process, especially their timely response.”


Rafael, R. | ★★★★★

“I was very comfortable with the environment it was my first meeting and I knew it was on the right track I did understand my lawyer I was listening I did absorb the information given to me.”


Ori, A. | ★★★★★

“Great experience all around, LawTrades was just so much more personal and much better than other startup/online on-demand solutions for legal work,. Almost feels like I handpicked and hired the attorney myself. The Attorney was available to answer questions by phone or text message, so was the LawTrades rep who set the whole thing up. And when setting up new entities you always have questions, so this was a big deal for me. The Attorney assigned to my project was available on demand to help out explain things every step of the way and I think the guys at LawTrades have done a great job with making you feel extremely comfortable. After all was done I even got an email and a call from one of the co founders of the company to make sure I had a seamless experience. I never got a call from other companies I had used in the past like Legal zoom and the whole thing always felt so automated. Yes, granted Legal zoom probably have way more clients than Lawtrades and as such would not be feasible for their management to call everyone, however, that was a nice touch which I do appreciate. I will definitely be heading back to Lawtrades whenever I require legal assistance.”


Tamas, P. | ★★★★★

“Price. I know what I am paying instead of getting surprised. Transparent pricing I know what each bit costs instead of getting a big bill and not knowing what parts cost what and how much was for service vs hard fees such as filing fees. Also things progressed rapidly.”


Yash, P. | ★★★★★

“Amazing service, i cant get over texting to get a lawyer. it’s revolutionary and can legitimately improve the US justice system for people with no access to quality lawyers.”


Janet, S. | ★★★★★

“Quick and easy, I used LawTrades and worked with attorney Jonathan Hood to review a NDA. I got my questions answered right away. Arman was a great help making the connection. Would highly recommend the service.”