Too Much Confidence in Your Confidentiality Agreements: Concern Over the Commoditization of NDAs
In recent years many companies have turned to standard “form” contracts for common business arrangements such as non-disclosure/confidentiality agreements (generically referred to as NDAs). It should be appreciated that an NDA is often the gateway for targeted discussions that lead to business relationships, investments, product, service, and material evaluations, sales, product and market developments, and other business or technical arrangements. As such, it is critical that the agreement is written with consideration of the context of the relationship. These concerns are echoed in the recent rulemaking proposal from the Federal Trade Commission regarding Non-Compete Clauses. The FTC proposal would essentially ban non-compete clauses and NDA’s would be de facto included.
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