All budding entrepreneurs need to protect themselves!

AM Total Business Solutions Ltd - www.angelarmorris.com

By Angela Morris

All budding entrepreneurs need to protect themselves!

When you are a budding entrepreneur you a full of ideas! Your mind can conceive what others struggle with.

People may not say it to you, but they may be thinking “why did I not think of   that?” distracted

 

That is a good thing but you must remember that you will always meet the tricky, plagiarist experts and the downright unscrupulous. That’s just the way it is and hopefully you are not one of them!

 

Sneaky

You need to protect yourself as much as others want to protect themselves from you. So don’t forget about your NDAs!

What is an NDA? A non-disclosure agreement (NDA), also known as a confidentiality agreement, this is a legal contract between you and another party not to disclose information that you have shared for a specific purpose.

Why do you need them? This allows you to approach potential partners, suppliers, consultants and customers with your business idea, knowing that the other party is legally forbidden to pass on that information.

When do you need them? When you are in a position that you will be:

  • sharing intellectual property
  • sharing commercial or trading information
  • formalising a relationship, perhaps between an employer and employee

 

What types are there which may suit you?

One-way and two-way NDAs

A one-way NDA-  this  is used when only your business is sharing information and the other party agrees to keep it confidential.

A two-way NDA – this is used when both you and another business are sharing confidential information with each other and want to be sure that neither will disclose their trade secrets (as if you would!).

 

I hope this is helpful and if you need support or further clarification you can always ask me.  Why?

Because ………..

“Life’s too short!”

 

https://angelarmorris.com

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