A brilliant businessman has opened a new music center that offers music tracks for online video content. He has hired the best studio musicians to record his personal compositions. His business has required a huge capital outlay for the equipment, the studio, the advertising and marketing, and the experienced sound technicians and musicians. He needs General Counsel Lawyers to safeguard his products.
A GC lawyer can help the businessman and composer to create a Non-Disclosure Agreement for each person that works as an employee at his enterprise. The businessman needs the protection of the agreement so that a person will not steal his ideas nor his compositions. Even though this businessman is brilliant, he has no experience with legal documentation or any kind of legal and binding agreements. Enter the GC lawyer, experienced in composing every type and kind of legal document. He advises the businessman regarding the standards of the NDA.
What is the NDA?
The NDA is a nondisclosure agreement contract between the owner of the asset and the person that will share the asset, in this case the employee. The asset can be information, a trade secret, or a creative asset, for example: music that has yet to be released or received a copyright. The nondisclosure agreement is a binding contract with a limited term of confidentiality that is listed in the agreement.
Why does a business need a NDA?
- A business could be starting a new venture or idea, securing a patent, or enhancing an already popular product.
- A business has lists of customers, with confidential information like names, addresses, phone numbers, birthdays, anniversaries or even social security numbers. Even email addresses and screen names are confidential information.
- A business could be drafting a new product or speculative wiring for a manufacturer.
- A business could have insider information regarding company mergers or stock events that has not been released to the news.
What Does an NDA include?
The NDA specifically states who has use of which information, who is allowed to discuss the information, and to whom the information is forbidden. In addition, the NDA will delineate which information is not confidential, as it may already be considered public knowledge. Most importantly, the NDA will determine the consequences and definition of breach of contract and pave the way for litigation if it is breached.
Can a General Counsel lawyer design a nondisclosure agreement?
Outside GC Attorneys has a staff of legal experts that will come to your business and advise you upon which products, information and services need the protection of a nondisclosure agreement. They can craft the agreement with the complete stipulations to give you both privacy and protection of your business creative assets. The general counsel lawyers can list the limitations of the agreement for you and your informed personnel. They will safeguard your company secrets and materials so that you will be confident your information is kept classified.