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Experience with NDA's?

by Alex Hunter
3 replies
Ok so I have, what I think, will be a massively profitable idea.

To start this, I'm going to be hiring a team of specialist programmers
and flying them to my office.

Therefore I need to whack together a quick NDA. At first, I will be
taking to someone I implicitly trust so just want a quick NDA.

(After that, my lawyer will be creating a better one).

So, here is a template I found:

Non-Disclosure Agreement From from The How-To Network

Does anyone know whether I need to write all the idea's, I'm going
to share into this agreement. And at what point would it go in, and
what format.

Thanks!
#experience #nda #non disclosure agreement
  • Profile picture of the author logosi
    good looking form and sure to cover most of the bases. I'd speak with your attorney and get his/her take. I can't say I have the answer you seek, but I would say (as a layman) it would be better to cover too many bases, than not enough.
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    • Profile picture of the author schabotte
      Using an attorney to be sure the NDA includes everything that is relevant to the discussion is strongly recommended.

      There really are two parts here. The NDA means basically means that they will not discuss with others what was discussed in that meeting or document or whatever is referenced in the NDA.

      The second part is the actual content that is covered based on the NDA.

      For instance, the NDA can refer to all discussions on Jan 10, 2009 or document titled "XYZ" or something like that.

      Also, be aware that after being exposed to your idea, some folks will tell you they have already been exposed to the idea. And if they have documentary proof of that, you probably cannot pursue any action against them (but I'm not an attorney - and that is an issue you should address with an attorney.)

      The last bit here is that in truth a contract is only as good as the people on both sides of it. And their personal ambitions. If the programmers don't share your vision or are not entrepreneurial minded, you don't have any worries. But I've known a few who were entrepreneurial minded who built systems for their employer and then ran with their own variation when they determined their employer was not capable of pursuing damages against them - employment contract terms be d**ned.

      So if your idea is groundbreaking and someone else who you presented it to runs with it, do you have money to bring about a lawsuit to collect damages? Unlike consumer injury lawsuits, you will be paying up front and it is a big cost.
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  • Profile picture of the author Chuck Evans
    This is a generic NDA and one that is for the US and you're in the UK! It's also dated 2001.

    I would have YOUR attorney draw up the necessary papers to apply to YOUR situation and cover YOUR bases. We have one, drawn up by our attorneys, that we use for every training class we conduct. So far, knock on wood, we have had only ONE person violate the NDA and they were swiftly dealt with through litigation and ruled in our favor!

    But again, contracts and NDA's are meant to be broken. So he who has more resources usually win!

    chuck
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