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anhtong replied to the topic Advice before signing an NDA in the forum Consultants and Legal Basics 7 years, 6 months ago
The most valuable asset that every business has is its secrets. In this era where your competitor can get your secrets and outsmart you in performance, NDAs come in handy. They provide protection in the event that prospective relationship with another party does not materialize. Before signing an NDA, it is prudent to understand that you are fully aware of the consequences of breaching it. This way, you will weigh the proportionality of the punishment, and if the punishment appears to be unreasonable, ask for clarifications and raise any concerns you may have. If you still feel dissatisfied with the information given, then refrain from signing it to avoid opening yourself up to litigations in future for accidentally revealing confidential information.