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Sunday, April 30, 2017

"Re: Sign NDA? Sure!" by Sleeping Soundly in Seattle - 4.30.17

Entry Submitted by Sleeping Soundly in Seattle at 2:18 AM EDT on April 30, 2017

"Sign NDA? Sure!" by (Anonymous) - 4.29.17


Buyer Beware with an NDA!

Bring your lawyer with you to your exchange. Have him or her sign as well. Here is why.

Say you have, after the NDA you signed alone, 900T USN. It is doled out every three months for 25 years. That's OK, because just where the heck were you going to invest your 100T ZIM for your projects anyway? But alas, in you ninth month, your payment is late, and less than usual. You contact the bank and get the run around. The next quarterly payment is late as well, so you call your lawyer.

ZAP! They got you!

You disclosed the terms of the NDA to someone. Who cares if it is your lawyer? They claw back and keep your money. See how it is done?

So you are smart. You read up on law. You speak to top lawyers concerning hypotheticals, without divulging details. You go to the court yourself and file a lawsuit.

ZAP! They got you!

You disclosed the terms of the NDA to the Clerk of the Court. Who cares if it is a judicial administrator? They claw back and keep your money.

You need a contract law specialist, not your slip-&-fall Better Call Saul guy at your exchange. He or she will red line it and say, "sign it, or we walk." They will grudgingly sign, with a "well, you can't get them all - one or two will be smart." So when it comes to the NDA (which, in all reality, is a very strong long term Certificate of Deposit fraught with rules and stiff penalties, with everything in the Bank's favor) be as careful as you can, and read the fine print. Better yet, have your contracts lawyer read the finer print, as at least they know HOW to read it.

Signed,

Sleeping Soundly in Seattle

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