Organizations of all shapes and sizes today are innovating at a pace not seen at any other time throughout history.
We’ve witnessed breakthroughs in miniaturization of technology, advancements in biotech and much more over the last decade, and companies have a right to keep these breakthroughs, including the work put into them, a secret.
One way to guarantee this privacy is by asking all employees and relevant parties involved in business processes and development of new products to sign a non-disclosure agreement or an NDA.
An NDA demands that all parties involved in the development of a product, or witnessing a service unfold not share, speak about or duplicate what they saw. This keeps all company secrets and intellectual property safe.
However, until recently, NDAs have been tedious, difficult to share, and often slow down entire research and development projects. In this article, we’ll take a look at why you should be using NDAs in your workplace and how you can digitize them.
What is a Non-Disclosure Agreement?
In the simplest terms, a Non-Disclosure Agreement that parties must sign to gain access or knowledge of a secret company project, workflow, or any other private aspect of a business.
Similarly to traditional ‘secret keeping’ an NDA is a legally binding agreement that prohibits anyone who has signed the NDA from sharing the information or project they have observed.
Until recently, NDAs were solely provided to parties on paper, making it hard for businesses to tell when or if a party had agreed to sign the NDA — if a member of the company wasn’t present at the signing.
Nowadays, businesses of all sizes across the globe make use of NDAs for a myriad of reasons from ensuring the secrecy of;
- New products or services
- Client information
- Data on sales metrics
- Product schematics
- To protect another NDA
- And much more.
In short, anything can be protected by an NDA, even a birthdate or an age.
How Are NDAs Used to Improve Workplace Safety
Aside from keeping company intellectual property a secret, NDAs can also work to keep businesses and workplace activities safe.
An example of this is requiring contractors and security teams to sign an NDA to prevent disclosure of a workplace’s layout or how security sweeps are undertaken. With this in mind, a firm can rest assured that their own unique way of keeping on top of workplace safety is protected and that no one can sneak by a sweep or enter an emergency exit.
The protection of intellectual property may also be a factor in keeping a workplace safe, too.
A company that requires all entering parties to sign an NDA will restrict any conversations regarding the products or developments inside happening outside of the workplace — thus reducing the chance of information leaks and break-ins by thieves wanting to access products in development.
An example of this is Apple’s development of the original iPhone. All parties involved were reportedly required to sign dual-NDAs. The first NDA restricted all parties from discussing the second NDA, and the second NDA was concerning the iPhone’s development. Apple supposedly undertook such pedantic measures to reduce both the chance of a copycat device and the chance of burglary.
As you can see, there are a few ways an NDA can help to secure a workplace.
What To Include in an NDA
For businesses new to the NDA process, it’s best you include a few rule-of-thumb additions to the NDA, as well as some of your own that are unique to your business.
You’ll want to not only keep your property safe and secure but also prevent any loopholes from being taken advantage of by those looking to improve their own businesses — after visiting yours.
A few of the points to outline in your workplace entry NDA include;
- The details of the parties signing the NDA
- The information relating to what is confidential
- The scope of confidentiality and the rules parties must adhere to
- Exclusions from the agreement, such as when and where the NDA can be broken
- The term or length of time of the contract
As you can see, NDAs cover a wide range of aspects, though all are necessary to protect your business and its intellectual property or information.
The Future of NDAs with Sine
For years, many companies across all businesses have been searching for an NDA solution that’s designed for the ways they work — digitally.
Today, Sine offers a suite of features that include the ability to create, distribute, and receive NDAs from clients, customers, and business partners. All NDAs provided with Sine can be entirely customized to a business’s content and can be adapted to the types of visitors signing them, ensuring that no information is accidentally shared to the incorrect party via an NDA.
All non-disclosure agreement used through Sine are;
- Securely stored on the Sine dashboard
- Copied and sent to your signee and your business
- Sent to parties based on their location.
In a single tap, your business could quickly relay numerous, unique NDAs to all relevant parties and their devices with the Sine app installed. To improve upon this, through the use of geofencing businesses can instantly have NDAs shared to every relevant party the moment they arrive on-premises.
There’s no need for an outside-of-work meeting, or to deliver paper documents, the Sine app simply does it all for you.
Here are the two ways modern NDAs work with Sine;
- Simply provide a workplace iPad with the Sine app to a visitor or partner to sign an NDA,
- Set up a workplace geofence,
- Alert and share NDAs to clients, customers and visitors entering the workplace,
- Receive a signed NDA and allow everyone entering your workplace access to NDA-secured areas.
- All NDA information is tracked, recorded, and displayed on the Sine Dashboard.
Making use of Sine’s diverse, location-based services you’re able to effectively send and receive signed NDAs as well as have all of the documentation provided to parties your business’s entry point, effectively automating the entire NDA-signing procedure.