NDAs can be crucial when information is the asset
In the context of commercial transactions, a stand-alone non-disclosure agreement (NDA) is typically used by parties who intend to exchange confidential information for the purpose of negotiating or exploring a potential collaboration. Having a well-drafted and negotiated NDA can be crucial, particularly in situations in which the information being exchanged is a valuable asset to the discloser, the parties operate in the same market, or the recipient also does business with the discloser’s competitors.
Beyond the NDA
Understanding the meaning and purpose of the common provisions in an NDA should help entrepreneurs and companies accomplish this, but also prevent them from over-negotiating certain provisions and potentially missing out on a good business opportunity. While it is important to have a tight NDA, it is equally as important (if not more so) to have mechanisms and procedures in place for the protection of such information.
Read more about what to look out for in negotiating and drafting NDAs in the document below from our partner Wuersch & Gering LLP written by Rowena Dungca.
