How to protect your ideas with an NDA

How to protect your ideas with an NDA

How to protect your ideas with an NDA
  How to protect your ideas with an NDA 

Non-Disclosure Agreements NDA to protect your Intellectual property - a look at how Non-Disclosure Agreements can protect your intellectual property.  For many companies today, one of their most valuable assets is their Intellectual Property (IP). Companies must take appropriate steps to protect the value of this asset, as they would any physical asset ,  yet must also utilize it to its full potential.  
Much like a distribution company would not keep its trucks in the garage to keep them from being involved in an accident on the highway, a start-up company can't keep its ideas locked away from the business who can make it a success.  The distribution company protects its asset (trucks) with vehicle  insurance so they can use them without exposing the company to financial ruin. 
The start-up company can protect their asset (IP) in several ways. One way is through a non-disclosure agreement. A Non disclosure Agreement (NDA), sometimes called  a confidentiality agreement , allows a company to share its IP with others, whose input it needs, without unduly jeopardizing that information. For example, if you have a new product or feature in development, but you need to consult an expert for advice on how to proceed, an appropriate NDA can ensure that the expert doesn't hand the details of your new product to a competitor of yours.  A non-disclosure agreement is a  legal contract  between you and the other party. You agree to disclose certain information to them for a specific purpose. They agree to not disclose that information to anyone else. Sample agreements are included at the bottom of this article. 

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Why An NDA?

You use a non-disclosure agreement when you have information that you need to give to someone, but you don't want them to pass that information to anyone else. This might occur because:
  • You have developed a prototype of a new widget. Before you decide whether or not to produce it, you need to get a cost estimate form a fab shop
  • You have developed a new business model that you want to present to venture capitalist for funding, but you don't want them to take the idea and develop it on their own
  • You want to respond to a confidential RFP from the government but no one in your organization can write the proposal. You need to hire an outsider, but don't want him disclosing to your competitors what he learns
  • You are trying to sell your company and the buyer wants details on your operations. You are concerned that they not cancel the deal as soon as they learn all your secrets and go use them themselves.

What Does An NDA Look Like?

Many companies have their non-disclosure agreements posted on the Internet for one reason or another. Here are some of the NDAs currently on the Internet. There are many similarities among them, yet they show a broad range of industry and company size .
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The Author: Ala'a Elbeheri

                                          Ala'a Elbeheri
A versatile and highly accomplished senior certified IT risk management Advisor and Senior IT Lead Auditor with over 20 years of progressive experience in all domains of ICT.  
• Program and portfolio management, complex project management, and service delivery, and client relationship management.      
• Capable of providing invaluable information while making key strategic decisions and spearheading customer-centric projects in IT/ICT in diverse sectors.    
• Displays strong business and commercial acumen and delivers cost-effective solutions contributing to  financial and operational business growth in international working environments.    
• Fluent in oral and written English, German, and Arabic with an  Professional knowledge of French. 
 • Energetic and dynamic relishes challenges and demonstrates in-depth analytical and strategic ability  to facilitate operational and procedural planning.  
• Fully conversant with industry standards, with a consistent track record in delivering cost-effective strategic solutions.   
• Strong people skills, with proven ability to build successful, cohesive teams and interact well with individuals across all levels of the business. Committed to promoting the ongoing development of IT skills  throughout an organization

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