Know What Your NDA Says

Do you think about what happens after you sign a non-disclosure agreement (NDA)?

If you sign NDAs and file them away thinking you are protected, you may have some surprises.

An NDA is a contract that protects your information and permits you to use the counterparty’s information in a limited way BUT ONLY if you do what the NDA requires you to do.

Do you know what is in your NDAs?

Do you know whether you must send a written notice after each meeting confirming the information is confidential?

Do you know what restrictions apply to sharing the counterparty’s information with your advisors and contractors?

Do you really want to share your most valuable trade secrets if your NDA allows the counterparty to use and disclose that trade secret after a year?

Get to know your NDAs.

Keep them close.

Do what they say.

Taking those extra steps to understand and comply with your NDAs will go a long way toward protecting your business’s trade secrets and confidential information.