Mutual Non Disclosure Agreement
Get started with a Mutual Non Disclosure Agreement here.
Matraex considers the confidentiality of our clients’ information and property to be of the utmost importance.
We commit to confidentiality through our personal commitments, using references of our long term client relationships as well as with legally binding Non Disclosure or Confidentiality Agreements. If you have an agreement you would like us to sign in order to keep your idea or concept confidential, please send it to us so we can review and execute it.
If you do not already have an agreement your company uses to protect the confidentiality of your intellectual property, please consider using our Mutual Non Disclosure Agreement.
Matraex uses a Mutual Non Disclosure Agreement which protects both Matraex as well as our client equally, this mutual or bilateral protection offers an assurance that the Agreement is “fair and balanced” and does not favor Matraex or our Client, but rather protects us equally. Our clients can confidently move forward knowing that our conversations are protected by our personal commitment and by a legally enforceable agreement. The Mutual Non Disclosure Agreement and its benefits are described in detail below.
Why Do I need an NDA
If you would like to share information with someone, but you do not want them to pass it along to someone else you might want an NDA.
According to this The Balance Career Article you may want an NDA because:
- You have developed a prototype of a new widget. Before you decide whether to produce it, you need to get a cost estimate from a fabrication shop.
- You have developed a new business model that you want to present to venture capitalists for funding, but you don’t want them to take the idea and develop it on their own.
- You want to respond to a confidential request for proposal from the government but no one in your organization can write the proposal. You need to hire an outsider but don’t want him disclosing to your competitors what he learns.
- You are trying to sell your company and the buyer wants details on your operations. You want to prevent them from canceling the deal as soon as they learn all your secrets and using them themselves.
When working with Matraex building a custom web or mobile application, you may have a proprietary idea that you do not want any one else to know about before you are ready to release it.
Mutual Non Disclosure Agreement Defined
Wikipedia defines a Mutual Non Disclosure Agreement as synonymous with a Bilateral Non Disclosure Agreement.
A bilateral NDA (sometimes referred to as a mutual NDA or a two-way NDA) involves two parties where both parties anticipate disclosing information to one another that each intends to protect from further disclosure. This type of NDA is common when businesses are considering some kind of joint venture or merger.
When presented with a unilateral NDA, some parties may insist upon a bilateral NDA, even though they anticipate that only one of the parties will disclose information under the NDA. This approach is intended to incentivize the drafter to make the provisions in the NDA more “fair and balanced” by introducing the possibility that a receiving party could later become a disclosing party or vice versa, which is not an entirely uncommon occurrence.
Have an idea you would like to discuss with Matraex, but you would like to have a Non Disclosure Agreement in place first? Get one started here