Is a lawyer needed to draft an NDA?


3

Do I need a lawyer to write up a non-disclosure agreement? If so how much should this cost on average?

It is a small company and it would be beneficial for them if I did not bring this to other companies. If the idea worked, I would be looking for some kind partnership.

Legal NDA

asked May 2 '12 at 04:45
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Peter Chapman
16 points

8 Answers


2

Chances are that the company has its own non-disclosure agreement. Or, you can find sample NDAs on the web -- I have one on my website. (No guarantee that it's good for your situation, but these things don't really have that much variation.)

The biggest things to worry about are: (1) what information is covered, (2) how long it has to be kept confidential, and (3) what they can do with the information during that period.

As Gary E. has alluded companies are often unwilling to agree to confidentiality for mere 'ideas.' Ideas are cheap and easy to come by -- if you've had an idea, chances are that somebody else has also, and the corporation doesn't want draw itself into a potential fight over who had the idea first.

answered May 2 '12 at 11:59
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Chris Fulmer
2,849 points
  • Helpful and concise -- nice answer Chris! – Keith De Long 8 years ago

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So you think you have an idea that might be of interest to a small company. But there are a lot of other pieces of information you need before you start on the NDA problem.

  1. Do you already know someone at this company who is on a high enough level to authorize paying for and using your idea?
  2. Do you know if this company has already thought of using this idea, and discarded it, or is currently working on implementing it, or may implement it in the future?
  3. Do you know if your idea will actually work and save them money? (Have you worked out the details of your idea and evaluated it from the perspective of this company?) Do you have a presentation, ready to go, to show off your idea?
  4. Do you know if their competition is using this idea or something like it?
  5. Have you worked out how much money you want for your idea?

When you can answer all of these questions and you realize that there are lots of ideas, but generally only the successful implimentations of an idea has value, you are ready to work on the NDA.

If your idea is of great value to this company, and you have found someone in authority who might be willing to buy it, and you have worked out a presentation of your idea to this company, you should probably hire an attorney to produce an NDA expressly for this situation.

On the other hand, if this idea is worth only a smalll amount of money, you might want to use a standard form NDA, which can be found all over the web.

answered May 2 '12 at 07:01
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Gary E
12,510 points





0

In about two minutes Our NDA creates a customized NDA PDF for free. It isn't comprehensive, but may work for your needs.

answered Dec 22 '12 at 01:17
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David Silva Smith
180 points

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HUH? So I understand this correctly. You have a concept and want to bring it to this company? You want to effectively stop YOURSELF from going to other companies and selling the same idea? Please explain to me WHY you would do this?

Going back to the NDA. They are as strong as the legal team you have behind you. If you don't have a huge team then it's worthless. Pitch your concept and only enough to get them interested. Then do the same thing to as many of their competitors in the same market. Tell them you just came or have a meeting with XYZ and they're interested in at least getting a pitch. Take it from there.

answered Dec 22 '12 at 11:35
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Tony
271 points

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