Jack, straight after graduating from engineering college started a robotics business with two of his best friends. It was initially very difficult to run the business, after all no one was interested in buying the robots at such high rates. Funds were very low, clients were difficult to get and troublesome. But ones the business came on track there was no looking back. Investment poured, turnover increased and everything looked fine, until one day his secretary left the office to join the competitor business and took with her more than half of the client’s information. Later, Jack had an altercation with the secretary, but nothing materialised in his favour. The competitors had a brand and better resources; they easily sold the same robots at lower prices. And within a year, the competitors occupied a large chunk of market share by using the client’s database. Jack’s business doomed drastically. Everyone blamed the secretary for this wrong deed and exclaimed that God will punish her.
Don’t know about the God but the laws could not punish her. But what if I tell you that the only person to be blamed is Jack and not the secretary? What if I tell you that Jack could have avoided this situation? May be the secretary was morally wrong but then Jack was legally absent minded. If and just if he had entered into Non-disclosure Agreement with her secretary, life would have been a different story altogether for him. It takes courage to start a start-up, but it takes horrendous courage to suffer a loss. When you incorporate a start-up anything can go wrong, or probably everything will go wrong.
At initial stage start-ups are completely focussed on building their products and growing their business. But what they forget is how to protect their business and their rights. It takes years to build something but only a small mistake to lose everything. And that is when Non-disclosure Agreement provides you with captain America’s shield. When you enter into a Non- disclosure Agreement with your employees or people you deal with, they become bound by law not to disclose about your products, plans, marketing strategy or anything which you want not to be disclosed. It also gives you an authority even before getting an intellectual property right, that no one can disclose your intellectual properties. It safeguards your interest against those who use your products or work in building phase. And if there is a breach of the agreement, you can get injunction against that person along with the compensation.
Does this story look familiar? Maybe it looks cliché, but it will never happen to you, isn’t it? It’s exactly the way, that 3 out of 1 person in India has diabetes, but you will never be diabetic. Maybe, Jack was just too misfortunate and your employees are damn too loyal to you. If you believe this, then I won’t prick your bubble. But trust me that’s the greatest advice you will get in life that trust no one and always enter into a Non-disclosure Agreement!
Don't be another Jack, create your Non-disclosure Agreement just for INR 200. Just click the link and create.