8 MISTAKES THAT STARTUPS MUST AVOID WHILE ENTERING INTO NDA
The element that makes a startup innovative is its unique idea or new approach to solve existing issues. An idea signifies its very existence so, by all means, that idea should be safeguarded. Here is when Non-disclosure agreement comes in picture. Whether you are considering a joint venture partner, an interested investor, or an employee at a significant position, a Non-Disclosure Agreement must be executed. The main purpose of NDA is to protect the confidentiality of information shared with an outsider. Not having a signed and enforceable NDA may have drastic consequences down the road when the information which was meant to be confidential falls into the wrong hands. Though a proper attorney should be hired to avoid all the pitfalls still one must have knowledge of what could go wrong that render NDAs unenforceable.
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