If you're routinely or occasionally presented with NDAs (non-disclosure agreements), this can be a source of friction in your business:
- 👨⚖️ Signing an NDA could open you up to legal risk
- 💸 Having your lawyer review NDAs costs you money
- 🕰️ Reviewing the NDAs yourself costs you time
I take the stance that you should set up a 'price speed bump' to discourage people who show up with NDAs in hand.
Here's the language I recommend for this, pulled from the as-yet-unpublished Just Say 'No': Scripts for Freelancers and Consultants:
There's a $500 fee for the cost for my lawyer to review your NDA. If you're willing to pay that fee, send the NDA over, and I'll send it to my lawyer. No guarantees on me signing once my lawyer has reviewed it.
Today, I ran into something that opened my eyes to a different approach.
Pay your attorney to draft up a standard NDA for your business. Have them walk you through it:
- What you can negotiate
- What you cannot negotiate
- What should make you think: "I better talk to my lawyer."
Then, set up a standard process where you offer to send your NDA to the other party
Great, I'm excited to learn more about what you need help with. I'll go ahead and send over our standard NDA for you to review and sign.
You get a few perks in exchange for the cost of doing this:
👨⚖️ Boutique NDA
You have an NDA that's written for you, your business, your needs, and your protection from legal risk.
You can rest assured that your NDA will protect you.
♻️ Rinse and Repeat Process
You now have a 'rinse and repeat' process you can follow to send your NDA to any lead that asks for one: send them the NDA through HelloSign (https://hellosign.com).
☮️ Peace of Mind
You can offer your leads and clients the peace of mind of knowing they've signed an NDA.
💰 Save Money by Investing Money
If you have your lawyer review every NDA that's sent to you (or if you're spending the time to read them all yourself), then you have a cost each time an NDA shows up.
Dodge this recurring cost with your one-time investment in a custom NDA for your business.
Now, instead of a recurring cost, you have a standard operating procedure you can follow and a standard document you can use to offer your leads peace of mind (and give yourself legal protection).