Enriching Life Through Innovative Ideas SM

What is a non-disclosure agreement?

As a business owner in California, you know ideas are worth their weight in gold. That is why it is so important that you safeguard your most valuable ideas when sharing information with others. Forbes explains how non-disclosure agreements (NDAs) offer such protection, while also detailing the key elements of these documents.

When crafting these documents, there are a few important considerations to make. For instance, all NDAs should have a well-defined term. This is the length of time the agreement will be active, which usually ranges from two to five years. An NDA could be enacted to last a lifetime, although this term tends to incur a higher cost, while also potentially being unable to be enforced.

You also want to make sure that all involved parties are clearly defined. Usually, this entails the disclosing party and the recipient of the information, although you can add others at your discretion. Equally important is properly defining what you mean by “confidential information”. If you want to protect oral as well as written information, you will want to include language to that effect. If so, sending a follow-up email after a conversation is a good idea, as the recipient will have an explicit understanding of confidentiality.

There are certain business scenarios where crafting an NDA makes the most sense. This can include business presentations, financing meetings, or when in search of professional services. It’s also a good idea to have an NDA in place when hiring new employees, who will naturally have access to sensitive information. In any case, it’s best to have professional legal counsel when creating this document. The law firm you choose should have a sound understanding of business and commercial law to ensure your NDA covers all the bases.

FindLaw Network

What Our Clients Say

Starting a new business can be a bit scary. Aside from worries of failure, there’s also the hassle of making sure all legal paperwork are properly filed. I reached out to Mr. Wang (Tommy) because of his excellent reviews and reputation and I am so glad I did. He was thorough and meticulous in answering all of my concerns and took time to find out special laws and policies regarding the kind of business I am starting. I could focus on the daily practical side of starting my new office without worry because I felt Tommy was reliable and took my case seriously. My business is opened and it’s all been a smooth start because of Tommy’s help. I have plans to start another business venture in the next few years and I already know I’ll be coming back to Wang IP Law.

The Shindig W.

I came to Tommy for help reviewing a licensing agreement I had secured with a well-known manufacturer. Tommy made sure I understood all the details in the contract and he negotiated with the company to improve my side of the deal. I mentioned to Tommy at my first consultation that we were looking to expand throughout the US and were investing a lot of money to make a big entrance into the market. I did not think I would have my store open so soon but Tommy also has connections with the local area and realtors to help me secure the location for my first store in the Los Angeles area. Tommy works a lot with the local businesses and he understands how to transition from the Asian market to US market. Within 8 months my store was open for business and fully operating. I must recommend Tommy to any business owners looking for help with contracts and improving their side of the deal. Tommy has the knowledge and experience to make sure there is a smooth process to open for business here, and make sure that your company is set up for success.

LI H.

I think Tommy and his team by far considered the best people to work with in my 16 business years. Beside quick responses to all my inquiries, they also done things right and providing very professional solutions. I’m highly recommending Tommy and his firm to all business owners.

Calvin C.

I have been working on my Utility Patent for almost 4 years. I have hired and fired two very reputable IP firms because with all their expertise and reputation for being some of the top firms in IP Law, I felt a lack of connection and care in my product, time and financial investment. Then I found Tommy and his team. Tommy does not waste time. He and his team are professional and extremely thorough. After 4 years, I finally found a legal team that I felt spent the time to really understand the components of my utility patent. Tommy also very mindful of cost and how and where my money would be better spent. I really feel I am in great hands with Tommy and his team. They have been patient with my revisions. And most importantly, they made me feel that they fully understood the importance this patent is to me. It has been a great and comforting pleasure working with Tommy.

G.L.

Read All