Anyone any advice on NDA,s

freddie_2

I need an NDA drawn up ASAP but not too sure the best way to go about it. Bit nervous about an onternet downloaded one as if it didnt cover specific my situation I could possibly get screwed in the future.
BUT I dont have cash for a solicator, just a brilliant idea and a very influential contact willing to have a meeting and help.

paddyrg

If the deal is important enough, find the money for your own solicitor. You can make things cheaper by finding an example of an NDA from elsewhere, making a couple of changes as necessary, then asking your solicitor to comment.

On the other hand, if the influential investor wanted to rip you off, they would do it with or without an NDA...

freddie_2

thanks, Will have a look at some examples and see if I can get a base drawn up for a solicator to have a look at.
Any major pitfalls in getting ripped off with an NDA I should be aware of?

patman99

Trevor Bayliss runs a website for inventors, on it there is an 'Inventors Pack' you can download that includes an NDA.

NDA's do give you enough protection to take someone to court from breaching them.

paddyrg

Just remember an NDA may give you the option to sue a breach but if you can't afford to sue, or if the other party is already making something similar and you come in and suggest something coincidentally already on the table, you have an uphill battle to prove anything/win in court. You have to rely on goodwill a lot in business, which isn't always as easy as it sounds, especially with megalomaniacs!

InsideInsurance

Whilst I have signed many an NDA, and asked others to sign one from me, I generally dont put much weight in them. As said, they simply need to say they have heard of the idea from somewhere else and thus aren't bound by it..... things are different if your talking company results or other material facts rather than ideas.

I would be highly concerned that if you cannot afford the £300 ish that a solictor would charge for an NDA that you would really struggle to get the £10,000+ to get a solicitor to pursue the other party for breaching it.

ethan123

I see this thread is a bit old now, but it seems like the right place to post, so I'll give it a go...

I am currently using an NDA which I give to anyone who I want to share information about my business concept. I am going to see a solicitor (lawyer) in a few days time, to see if they can help me with my business... I mentioned the NDA but they said that it won't really be necessary because they are bound by client confidentiality.

Sorry if this sounds like a bit of a silly question, but will I be safe to talk to them without the NDA being signed first?

I know that solicitors are bound by some type of confidentiality practice, when it comes to their clients... but, I haven't paid them anything yet... and this is just going to be the free consultation - and I might end up using someone else instead.

Any guidance in this matter would be most welcome...

paddyrg

I think you'll be fine - they are trying to win your business so you'll become a client...they'll be on best behaviour for this initial meeting anyway and if it ever got out that a solicitor was being indiscreet he'd lose all his clients in a heartbeat.

Mistral001

Client confidentiality exists in many professions. The legal profession has client confidentiality as well. In criminal cases it is usually rock solid. It is often mentioned in films where the barrister is visiting client in prison before the trial etc. In extreme cases breaking client confidentiality could result in a murderer walking free and it is a very serious matter. But do not confuse this with civil matters such as NDA's and contract law. Then it is just a case of professional confidentiality as with an accountant, doctor etc.. This is usually fairly secure. In my experience though solicitors, especially small town solicitors come down the list in the keeping clients matter confidential - no offense to any solicitors here.

ethan123

Thanks for your reply guys

I have also been told (outside of this forum) that their profession is heavily regulated...
... so, I think I should be fine...