Hi friends, I am trying to make an NDA for my company, so I have certain questions like: Is it always better to use the company's letterhead if not stamp paper? Can we circulate the copies to the party which has to sign the NDA (soft copy or hard copy)? Do we need different NDAs for clients and employees? How specific should an NDA be?
From India, Hyderabad
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From India, Hyderabad
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Greetings,
Here's what I experienced while managing it:
- NDA was signed on a stamp paper. Any non-compete agreement is a legal document to be referred to in case of any litigation, hence maintained similarly.
- NDA was not circulated, but in case the employee who was supposed to sign it had any questions, he/she was scheduled to speak to the concerned legal and compliance team to make sure every point is well understood. We used to arrange a detailed session before the document would be signed. Once this information-sharing session would be over, we used to have a training form signed on the content of training, being well understood by the trainee.
- NDA is ideally not different for each client. Yet, if you have clients from different continents, their legal requirements would greatly vary. In that case, there might be a few terms that would be different, or else, the document largely remained similar. Certain agreements had the competitor's name mentioned, with whom the employee would not be able to work within the locking period. Other agreements would just mention the vertical and any job, including those skill sets or customer information.
- The specification would again depend on the company policy. I have seen NDAs from different companies that differed in terms of client name, skill sets, duration, vendors, client's client, location, etc.
Please blog your queries. Allow all of us to contribute to your learning.
Regards, (Cite Contribution)
From India, Mumbai
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1872Here's what I experienced while managing it:
- NDA was signed on a stamp paper. Any non-compete agreement is a legal document to be referred to in case of any litigation, hence maintained similarly.
- NDA was not circulated, but in case the employee who was supposed to sign it had any questions, he/she was scheduled to speak to the concerned legal and compliance team to make sure every point is well understood. We used to arrange a detailed session before the document would be signed. Once this information-sharing session would be over, we used to have a training form signed on the content of training, being well understood by the trainee.
- NDA is ideally not different for each client. Yet, if you have clients from different continents, their legal requirements would greatly vary. In that case, there might be a few terms that would be different, or else, the document largely remained similar. Certain agreements had the competitor's name mentioned, with whom the employee would not be able to work within the locking period. Other agreements would just mention the vertical and any job, including those skill sets or customer information.
- The specification would again depend on the company policy. I have seen NDAs from different companies that differed in terms of client name, skill sets, duration, vendors, client's client, location, etc.
Please blog your queries. Allow all of us to contribute to your learning.
Regards, (Cite Contribution)
From India, Mumbai
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Confidentiality agreement.doc