Non-Disclosure Agreement (NDA)
In the present times of fierce competition and changing technology, where everyone is trying to outpace and outsmart others, the core element of human relationship, which is TRUST, has got downgraded. That’s why to build a strong and trustworthy relationship between two parties, NDA builds a solid platform. NDA is the most secured document for both the parties i.e. the Discloser and the Receiver. Both the companies interchangeably may be either.
This agreement makes two (2) legally bounded entities to enter into a legal agreement, which makes them –
What NDA covers?
The below points are not exhaustive and are shared just to give a cursory look –
- What is Confidential Information?
- Handling of Confidential Information
- Return of Information
- Scope, Timeline and Geographical boundaries specified
- Non-Competition in the future
Why NDA is stronger than Employment Contract?
First of all, it is important to understand why there is a need to compare these two separate agreements. It is commonly believed and interpreted that once an individual joins the company, he or she becomes part of the company and it is a common practice to share things with them as per their job profile. This is also assumed that the employee will remain part of the company and even if they leave they will not share the inside stories, secrets and information with others. But its important to highlight over here that there is no such binding clause on Confidentiality between the employer and the employee. That’s why we felt it is necessary to draw a parallel between the NDA and the employment contract.
- Employment contract is between the company and the individual.
- There is no Confidentiality clause.
- The employee can join the competitor and can share / utilize all the secrets / data. Not only this he or she can even float their own company.
- The employment contract doesn’t bind them geographically as it is country specific.
NDA is between company to company and it is framed on the basis of Confidentiality and for Confidentiality.
- The company has a brand value and reputation in the market, which an individual employee may not be overly concerned about.
- The company is run by values and culture and is not driven by short term motives. Ethics and Professionalism is greatly inbuilt in the company than an individual employee.
ASK yourself. Why do people breach the Trust? Because they have selfish motives and driven by greed or revenge.
Now, look at us – read about us – talk to us.
We are the company which is built on Selfless value system and we believe in Win-Win-Win model. We have Reach but we don’t Breach. Such a thought doesn’t even cross our minds. Neither we encourage nor we ourselves indulge in wrong practices. Whether you ask us or not, but we don’t start our relationship without signing the NDA.
First comes Your Security and Your Benefits
Secondly, comes Our Benefits.
Having said the above, we encourage you to thoroughly study NDA and gain more understanding. Before we sign off the Retainership Agreement / Engagement Letter, we first sign the NDA.