How to Write a Standard NDA
Watch more Business Communication videos: http://www.howcast.com/guides/25-Business-Communication Subscribe to Howcast's YouTube Channel - http://howc.st/uLaHRS Write a standard NDA to protect your confidential information with these tips. Howcast uploads the highest quality how-to videos daily! Be sure to check out our playlists for guides that interest you: http://howc.st/ytmainplaylists Subscribe to Howcast's other YouTube Channels: Howcast Health Channel - http://howc.st/HOE3aY Howcast Video Games Channel - http://howc.st/tYKKrk Howcast Tech Channel - http://howc.st/rx9FwR Howcast Food Channel - http://howc.st/umBoJX Howcast Arts & Recreation Channel - http://howc.st/vmB86i Howcast Sports & Fitness Channel - http://howc.st/vKjUjm Howcast Personal Care & Style Channel - http://howc.st/vbbNt3 Howcast empowers people with engaging, useful how-to information wherever, whenever they need to know how. Emphasizing high-quality instructional videos, Howcast brings you experts who provide accurate information in easy-to-follow tutorials on everything from makeup, hairstyling, nail art design, and soccer to parkour, skateboarding, dancing, kissing, and much, much more. Step 1: Decide if your information requires an NDA Decide if your information requires an NDA. For example, does your trade secret give you a competitive advantage in the marketplace? If not, you may not need a legal document. If it does, however, you want the secret to be legally protected. Step 2: Know about standard NDA types Know about standard NDA types. In a one-way NDA, only one party is making a disclosure. In a mutual NDA, both parties reveal confidential information. Tip An example of a mutual NDA might be that you reveal your soft drink recipe to a beverage company. In turn, they reveal their marketing strategy. Step 3: Learn common NDA legal terms Learn common NDA legal terms. The discloser and recipient are two NDA parties. A statement of reason describes the NDA's purpose. Tip A penalty clause is optional, and states the compensation amount for a breach of confidentiality. Step 4: Search online for NDA examples Search online for NDA examples. Many places, such as the Harvard Business School, make examples available. Use these samples as models when drafting your agreement. Step 5: Buy an NDA template Buy an NDA template from online legal services like NOLO or LegalZoom.com if not confident in your draft. Fill in the template with your confidential info. Step 6: Go to the American Bar Association website Go to the American Bar Association website to find a member in your state that specializes in contracts if you are still not confident creating your NDA. A good attorney will make sure that your NDA is legally binding, and you can rest certain that your trade secret is protected. Did You Know? Coca Cola's secret formula, code named "Merchandise 7X," is kept in a guarded Atlanta bank vault.