An NDA (also known as a confidentiality agreement) helps protect sensitive information that you want to share with another person or party. It is clearly stated that confidential information is only shared with those who wish to see it. Almost any type of information, both commercial and personal, can be protected by an NDA. You should have a clear purpose to explain why this information should be confidential. Similarly, some other independent contractors, such as developers who collaborate with multiple clients, may refuse to sign your confidentiality agreement, increasing their risk of being sued by an ex-client or limiting their ability to find similar future work. That`s why any agreement entered into for a startup should be structured in such a way as to meet the specific requirements and unique factors of that particular startup, including confidentiality agreements. The only example I`ve found of VCs sharing the bridges of startups comes from a YouTube video by Jacqui Murphy at Tech Capital Partners in Canada in late 2009. Jump directly to 35min 30sec to see the anecdote. Normally, even after the end of your formal employment relationship, the receiving party remains bound to protect confidentiality, depending on whether the confidentiality requirement is likely to go beyond the expiry date of the confidentiality agreement.
At a time when business is truly international and if you and the other party to the NDA are not both in the same country, the NDA must state the law that governs the agreement. There are many free form documents on the Internet that founders can use for NDAs. However, not all NDAs are created in the same way. It is important for a founder to understand what information they want to keep confidential and what goals they want to achieve with the NDA before trying to fill out any of these documents «from the bar». To simplify this process, all Accelerate Gust Launch users will have access to workflows to create unilateral and bilateral NDAs in a simple way. Insisting on signing this agreement too early in the development of a relationship, if you still find yourself with one another, sends a message that you do not trust the person and that you risk putting the relationship on a bad start. A confidentiality agreement (NDA) is a legal contract between the parties, under which a party that receives confidential information («repairing party») from another party that discloses that information («disclosed party») promises not to disclose such information or to use it without the permission of the disclosing party. A sore point for startups is that if you`re trying to raise money for your startup, venture capitalists sometimes refuse to sign deals.