Keep confidential information exactly that – confidential.
What is a Non-Disclosure Agreement?
A Non-Disclosure Agreement (NDA) requires both parties (in the case of a mutual NDA) or one party (in the case of a one-way NDA), to keep information confidential and to use that information only for a specific purpose.
Why generate this document?
Generate this document to protect your startup when sharing sensitive information with third parties.
What does a Clara NDA do?
Limits who can access your startup’s confidential information. This includes both parties’ employees and advisors.
Restricts how the confidential information can be used (e.g. you might choose to allow for its use only to evaluate a potential transaction between the parties).
When a non-solicit provision is included, this document also prevents both parties from poaching the other party's employees, customers and suppliers.
Is governed under English law with a dispute resolution mechanism using expedited ICC arbitration procedures to be held in a place you can select in the form.
Clara recommends…
Generating an NDA - despite their difficulty to enforce in practice, they signal an intent to treat shared information carefully. You may also need one to allow you to share your information with third parties (e.g. under a contractual obligation not to share information about that contract without an NDA in place).