tispr File Cabinet: Non-Disclosure Agreements [Legal Illumination: Part 2 of 4]
Playing by your own rules means a few things: it allows for a greater freedom, greater flexibility, and being able to turn what you love into what you do. While those are all the best aspects of being a talented individual and taking advantage of the gig economy, sometimes the legality of it all can be difficult to wrap your head around. Never fear, tispr is here! We’re going to guide you through the four essential types of legal documents. Last week, we deconstructed the Consulting Agreement, today we’re focusing on Non-Disclosure Agreements, and next week, we’ll get to work on Royalty Agreements. For now, let us help put your mind at ease and ensure the highest level of privacy as we talk you through what you need to know about NDAs.
What the heck is an NDA? Basically, they’re legal documents that tell the signees of the document that they can’t disseminate confidential information to anyone else. This agreement will last for however long you want it to – for example, the agreement itself can last for three years, but the recipient of the NDA can’t disclose confidential information to anyone for five years. Think about the trajectory of your business or work, and choose a time frame that works best for you.
Why use an NDA? To put it simply, using and NDA protects your confidentiality and ensures that anyone who signs one isn’t going to run and tell everyone (or anyone) about information you want kept private for now. This also ensures that in the rare case that they do let it slip, you can take legal action against them. While it’s not a best-case scenario, by any means, it does protect you in the long-run.
Click here for a Non-Disclosure Agreement template you can print out and use for your business. See you next Weds. for tispr File Cabinet: Legal Illumination: Part 3 of 4, Royalty Agreements!