Why we don't sign NDA's

Why we don't sign NDA's

Simon Jenner

Wednesday, 5 October 2022

What are Non Disclosure Agreements (NDA's) and why no-code agencies don't sign them.

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What is a Non-Disclosure Agreement (NDA)?

A non-disclosure agreement (NDA) is a legal contract between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share with one another, but wish to restrict access to only the parties. The parties signing the agreement agree that sensitive information they may obtain will not be made available to any others.

Why Million Labs doesn't sign NDA's
From time to time we get asked to sign an NDA (to be honest not as much as in the past) but we have a no NDA policy and here is why?

1- We have heard the idea before. We have worked with over 1000 startups already and we speak with another 1000 each year at least, so we hear a lot of ideas. We hear the same idea all the time, sometimes the same idea in the same week from Startups on different sides of the world. It's therefore very difficult for us to keep track of where we heard something and whether it was covered by an NDA.

2- Creates conflicts of interest. We may already be working with another customer on something very similar and now we have signed your NDA and just found out that we are legally bound to stop working with our existing customer (which makes no sense)

3- We are not in the business of stealing ideas. We help startups take an idea and launch it into a successful no-code startup. We would destroy our reputation if we just started stealing ideas, so we don't.

4- Most NDA's aren't worth the paper they are written on. They just don't hold up in court, you have to prove that there was not other means by which they could have had come across the information. If what you told us is publicly available, it won't hold up in court. For example we met with a startup founder who had asked us to sign an NDA and we politely said no. He then told us about his idea anyway and said he already had a landing page and 100 people signed up to it. So the information he was sharing with us had already been shared with the world, which would have voided any NDA!

5- Ideas are worthless execution is everything. Chances are there are a bunch of founders around the world who have the same idea at the same time, the Startup that will win will be the one that executes the best not the one that keeps their idea the best secret.

6- Ideas should be shared. You want to get as much input on your idea as possible to stress test it and get insight from people with different view points.

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