What is a Non-Disclosure Agreement or Confidentiality Agreement?
The non-disclosure agreement (NDA) or confidentiality agreement is the most used document in business, routinely tabled to cover the confidential exchange of any business information, from business proposals to inventions to financial information to software code to client information. Often, what is to be protected is valuable intellectual property.
However, there is no such thing as a ‘standard’ NDA or ‘standard’ confidentiality agreement, despite their ubiquitous and routine use as a stand-alone document or as part of another commercial or employment agreement. While many do cover common issues, each issue requires careful line by line review to manage the appropriateness of the document proposed and risk of loopholes, laxness, overreach or deal-breakers.
How can an online NDA subscription service help your business?
Some organisations and people do not necessarily ascribe a lot of value to the professional time required for a detailed review and advice on what should be changed before they sign.
A thorough review should include consideration of whether the obligations are enforceable, whether they are mutual or one-way only, the scope of the document’s stated purpose, and definition of what is confidential and with whom information may be shared, the term, security obligations to cover the degree of care in storing the information, IP ownership, notice and audit obligations, restraints, post termination obligations, and whether the remedies from improper use of confidential information are appropriate.
Finding the right solution to review and negotiate NDAs can help organisations create efficiencies in outsourcing a routine operational legal task and may free up time for legal departments to tackle strategic functions while meeting the legal department’s standards by adherence to an agreed playbook.
Nicholas Weston IP Lawyers offers a subscription service to review existing NDAs at a fixed cost or draft new NDAs, so that the business may proceed with confidence.
We use machine learning tools combined with a lawyer-in-the-loop for an efficient and accurate NDA review.
Our subscription based service will analyse, abstract or summarise and make recommendations of priority terms to negotiate and streamline the NDA review process for your company or legal department, for a fixed monthly fee. These are tiered based on volume.
Subscription fees
| Quantity | Cost (ex GST) |
|---|---|
| 1-4 NDAs per week | $450 |
| 5-9 NDAs per week | $950 |
| 10-24 NDAs per week | $2,400 |
| 25+ NDAs per week | Customised |
Other benefits of subscription
Below are some examples of monthly legal services we offer to subscribers to our NDA review service:
- Schedule unlimited or regular calls with a lawyer. We help every step of the way. We are not a do-it-yourself service that may leave you with more questions than when you began. Some clients will benefit from weekly, monthly or quarterly reviews. Others need to know they can simply pick up the phone when they need us. The subscription covers short calls without incurring further charges.
- Get flat rates for other repeat services, such as contract reviews and common legal documents that you can customise to your needs. Instead of constantly guessing how long contract reviews will take, and therefore what the accumulated hourly bill will be, clients can sign up for contract reviews as a flat fee, weekly legal service.
- Discounts for additional services that aren’t included in the ongoing monthly NDA review subscription.
