Questions

I'm a tech entrepreneur who recently met with another tech entrepreneur who is in the same industry. He wants to potentially work with me but before he can talk about his venture he wants me to sign a non-disclosure agreement.

Just my thoughts...
I have been involved in entrepreneurial endeavors for many years and HATE NDA's. While I understand the importance, most people want you to sign them because they think they have the next best thing! Truth is, I keep my secrets close and will not share them with anyone that I don't trust or only trust if they sign an NDA. NDA's are important in longer term contracts and when working deep in the daily operations of the organization of which whom you are working with, and NEED to protect both parties. That said, they are only as strong as your pockets are deep when it comes to legal standing and there should be a level of trust established prior to sharing information that may be detrimental if in the wrong hands.

I will sign NDA's if it is a requirement in doing business and feel the relationship requires one, however, if it does, I really search my gut as to if it is a relationship that I want to be in long term and if what I am signing is two sided and would we both feel fine moving forward without one.

I have purchased businesses on handshakes and feel you really need to trust your gut and work with people you can trust.

Again, just my thoughts.
-Branden


Answered 6 years ago

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