Perspective
Nov. 25, 2013
Don't let confidentiality agreements become deal breakers
NDAs should serve the contemplated transaction, as opposed to becoming an impediment to a deal. By Demian Casey
The chief executive officer of Acme Widgets is excited about partnering with Beta Corporation. Her counsel drafts a nondisclosure agreement, or NDA, and sends it to Beta. Two weeks later, Acme receives a draft with more red than black and Acme and Beta spend weeks hashing out terms. An overlawyered confidentiality agreement is signed, but momentum for a deal is lost and neither side pursues the partnership. Confidentiality agreements - e.g., NDAs ...
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