NON-DISCLOSURE AGREEMENT (NDA) – ONE WAY
A Non-Disclosure Agreement (NDA), also known as a confidentiality agreement, protects sensitive information about your business.
The agreement contained in the NDA is used to get the recipient of the confidential information to agree not to disclose the information to anyone else.
Sensitive information about your business is information you provide to another party in confidence, valuable and not in the public domain.
If you are both sharing information, you require a TWO-WAY Non-Disclosure Agreement. Contact me for details.
What can happen if you don’t have a NDA in place?
If you do not use or have an NDA in place when you are sharing private and sensitive information, then the party that received that information is at liberty to do whatever they like with that information including setting up a competing service, selling your business secrets to a competitor or make the information public.
When do you need an NDA?
You need an NDA when you are setting up a new business, are developing your business, or you’re having business development discussions with a third party.
You will use the NDA to protect information about your business including
- Business ideas
- Business plans
- Marketing plans
- Concepts in development
- Financial information
- Formulae and recipes
- Research results
- Software programs
You will prepare and NDA and provide it for signing BEFORE you enter into substantive discussions with service providers and potential investors.
Who are the Parties that you should provide an NDA to?
You will need to provide an NDA BEFORE you engage a contractor or advisor such as a social media manager, VA’s, OBM’s, web developers and designers, copywriters, business coaches, product designers, manufacturers, graphic designers, brand specialists, mostly anyone you want to talk to about getting something done for your business.
For these parties to give you meaningful advice and information for the development or support of your business you will need to provide them with information that you would not share publicly i.e. sensitive, private business information, and a properly signed NDA will go a long way in protecting your business information.
You must ensure that the right person signs the NDA – i.e. the owner or company director of the business that the NDA applies to.
ABOUT THE LEGAL TEMPLATES
These templates have been lovingly created by me (an Australian lawyer) to give you the protection your business requires without the expense of a done-for-you service.
Upon completing your purchase, you will receive an editable download along with explanatory notes on how to use and complete the documents. Just fill in the blanks, upload to your website and you’re done. Be sure to save your files somewhere safe – for security reasons the templates are limited to download 5 times. You can always contact us if you need more for any reason.
WHO THESE LEGAL TEMPLATES ARE FOR
- Start-up businesses
- Solopreneur service-based businesses
- Australian based businesses
If you are unsure if this template bundle is right for you, please send me an email and I will be happy to point you in the right direction of what your business needs. Contact me here.