Provided by: Jennifer Kirschenbaum, Esq.
October 9, 2018
Question:
Hi Jennifer,
I may want to shop my practice to a potential buyer. When should I use a Non Disclosure Agreement?
Thanks, Dr. M
Answer:
A Non Disclosure Agreement is a good idea prior to allowing any third party any access or provision of confidential or proprietary information being disclosed or becoming accessible. So, as a starter to most conversations between parties when you know there may reasonably be expected a need for disclosure, it is also a good idea to get a Non Disclosure Agreement in the works. As far as form and time commitment for a Non Disclosure Agreement - a proper NDA is a form document that can easily be customized per arrangement. The document is not a tremendous investment, and a basic document necessary to protect that Je Ne Sais Quoi of your practice.
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