Toby Bond, associate at international law firm Bird & Bird, discusses how tech entrepreneurs can navigate non-disclosure agreements.
The information revolution is built on sharing information. But certain categories of information are only valuable because they’re not generally known to others; inventions, product ideas, business models, business plans, research findings, analytics. Tech entrepreneurs value this information because it’s secret and use it to differentiate themselves from the competition.
However, there are situations when entrepreneurs will need to divulge certain categories of secret information to a third party. They may have to convince investors that their idea has market potential, or perhaps they want to collaborate with another company to develop a new product or service. On a more day-to-day level entrepreneurs will often need to give suppliers and consultants some level of access to their secret information. ...