The 5 Most Overlooked Elements Of NDAs
Tom Kulik of Dallas-based Scheef & Stone writes about a trend toward companies and counsel using rote reliance on forms for non-disclosure agreements without thinking through the application of the provisions and whether the document actually reflects what is contemplated (let alone needed) for the intended transaction.
Writing for Above the Law, he discusses the top five most overlooked elements in NDAs that should always be addressed before signing on the dotted line.
Those include the importance of definitions, exclusions, “what the government seeks, it can inadvertently take away,” “use needs a purpose,” and “the term is only the beginning.”