The Cult of the Non-Disclosure Agreement
The anonymous entrepreneur blogger at Frozen North says that we have created a cult of the non-disclosure agreement in our culture. Entrepreneurs are concerned about protecting their innovative ideas and don’t understand when venture capitalists and other potential investors or financers don’t want to sign a non-disclosure agreement (I went through this recently with one of the startups I’m advising).He says that the entrepreneurs’ logic is wrong in most cases, and that the only information which is appropriately confidential is:
- Trade secrets, unique methods and algorithms, and processes.
- Customer lists and prospect lists.
- Data generated on behalf of a client.
- Information which a third party has asked be kept confidential.
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