In today's interconnected business world, safeguarding your confidential information is crucial, particularly when dealing with partners, contractors, or employees from other countries. A Non-Disclosure Agreement (NDA) is a common tool businesses use to protect their valuable information, but crafting a compliant international NDA can be challenging. Let's explore some essential steps to create an effective international NDA.
Key takeaways:
In today's interconnected business world, safeguarding your confidential information is crucial, particularly when dealing with partners, contractors, or employees from other countries. A Non-Disclosure Agreement (NDA) is a common tool businesses use to protect their valuable information, but crafting a compliant international NDA can be challenging. Let's explore some essential steps to create an effective international NDA.
An NDA, also known as a confidentiality agreement, is a legally binding contract that establishes a confidential relationship. The party or parties signing the agreement agree that sensitive information they may obtain will not be made available to others.
When drafting an international NDA, it's vital to determine which country's laws will govern the agreement. For example, if a U.S. company is entering into an NDA with a German contractor, the agreement could be governed by the laws of either the U.S. or Germany. This decision has significant implications for the enforceability of the NDA and the remedies available in case of a breach.
A well-drafted NDA must explicitly define what constitutes "confidential information." This may include trade secrets, business strategies, customer lists, proprietary software, and more. However, be cautious not to make the definition overly broad, as some jurisdictions may not enforce an NDA that they deem to be unreasonable in scope.
The NDA should clearly state the receiving party's obligations regarding the confidential information. This typically includes obligations to use the information only for defined purposes, to keep the information secure, and not to disclose the information to third parties without prior written consent.
The NDA must specify the period during which the confidential information must be kept secret. This term varies depending on the nature of the information and the jurisdiction, but a term of two to five years is common.
A well-drafted NDA will also include standard clauses such as a non-circumvention clause (preventing the receiving party from bypassing the disclosing party in business dealings), a non-solicitation clause (preventing the receiving party from poaching employees), and a remedies clause (outlining the actions the disclosing party can take if the NDA is breached).
When dealing with international NDAs, always seek the advice of legal professionals who are well-versed in the relevant jurisdictions. They can help ensure that the NDA is compliant with all applicable laws and is properly tailored to protect your company's valuable information.
An NDA is a critical tool in your business's legal arsenal, but it's not a one-size-fits-all solution. Each international NDA should be crafted with care, keeping in mind the specific needs of your business, the nature of the information to be protected, and the laws of the relevant countries.
If you’re hiring contractors, you’re probably spending too much time on their payroll, contracts, and tax documents. Which is why we built Thera, which saves you 90% the time you spend on contractor paperwork each month.
With Thera, you can compliantly hire your contractors in 150+ countries, onboard them in minutes, and pay them all at once (in a click). It’s global contractor payroll, finally simplified.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.
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This is some text inside of a div block.Key takeaways:
In today's interconnected business world, safeguarding your confidential information is crucial, particularly when dealing with partners, contractors, or employees from other countries. A Non-Disclosure Agreement (NDA) is a common tool businesses use to protect their valuable information, but crafting a compliant international NDA can be challenging. Let's explore some essential steps to create an effective international NDA.
An NDA, also known as a confidentiality agreement, is a legally binding contract that establishes a confidential relationship. The party or parties signing the agreement agree that sensitive information they may obtain will not be made available to others.
When drafting an international NDA, it's vital to determine which country's laws will govern the agreement. For example, if a U.S. company is entering into an NDA with a German contractor, the agreement could be governed by the laws of either the U.S. or Germany. This decision has significant implications for the enforceability of the NDA and the remedies available in case of a breach.
A well-drafted NDA must explicitly define what constitutes "confidential information." This may include trade secrets, business strategies, customer lists, proprietary software, and more. However, be cautious not to make the definition overly broad, as some jurisdictions may not enforce an NDA that they deem to be unreasonable in scope.
The NDA should clearly state the receiving party's obligations regarding the confidential information. This typically includes obligations to use the information only for defined purposes, to keep the information secure, and not to disclose the information to third parties without prior written consent.
The NDA must specify the period during which the confidential information must be kept secret. This term varies depending on the nature of the information and the jurisdiction, but a term of two to five years is common.
A well-drafted NDA will also include standard clauses such as a non-circumvention clause (preventing the receiving party from bypassing the disclosing party in business dealings), a non-solicitation clause (preventing the receiving party from poaching employees), and a remedies clause (outlining the actions the disclosing party can take if the NDA is breached).
When dealing with international NDAs, always seek the advice of legal professionals who are well-versed in the relevant jurisdictions. They can help ensure that the NDA is compliant with all applicable laws and is properly tailored to protect your company's valuable information.
An NDA is a critical tool in your business's legal arsenal, but it's not a one-size-fits-all solution. Each international NDA should be crafted with care, keeping in mind the specific needs of your business, the nature of the information to be protected, and the laws of the relevant countries.
If you’re hiring contractors, you’re probably spending too much time on their payroll, contracts, and tax documents. Which is why we built Thera, which saves you 90% the time you spend on contractor paperwork each month.
With Thera, you can compliantly hire your contractors in 150+ countries, onboard them in minutes, and pay them all at once (in a click). It’s global contractor payroll, finally simplified.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.
Block quote
Bold text
This is some text inside of a div block.Key takeaways:
In today's interconnected business world, safeguarding your confidential information is crucial, particularly when dealing with partners, contractors, or employees from other countries. A Non-Disclosure Agreement (NDA) is a common tool businesses use to protect their valuable information, but crafting a compliant international NDA can be challenging. Let's explore some essential steps to create an effective international NDA.
An NDA, also known as a confidentiality agreement, is a legally binding contract that establishes a confidential relationship. The party or parties signing the agreement agree that sensitive information they may obtain will not be made available to others.
When drafting an international NDA, it's vital to determine which country's laws will govern the agreement. For example, if a U.S. company is entering into an NDA with a German contractor, the agreement could be governed by the laws of either the U.S. or Germany. This decision has significant implications for the enforceability of the NDA and the remedies available in case of a breach.
A well-drafted NDA must explicitly define what constitutes "confidential information." This may include trade secrets, business strategies, customer lists, proprietary software, and more. However, be cautious not to make the definition overly broad, as some jurisdictions may not enforce an NDA that they deem to be unreasonable in scope.
The NDA should clearly state the receiving party's obligations regarding the confidential information. This typically includes obligations to use the information only for defined purposes, to keep the information secure, and not to disclose the information to third parties without prior written consent.
The NDA must specify the period during which the confidential information must be kept secret. This term varies depending on the nature of the information and the jurisdiction, but a term of two to five years is common.
A well-drafted NDA will also include standard clauses such as a non-circumvention clause (preventing the receiving party from bypassing the disclosing party in business dealings), a non-solicitation clause (preventing the receiving party from poaching employees), and a remedies clause (outlining the actions the disclosing party can take if the NDA is breached).
When dealing with international NDAs, always seek the advice of legal professionals who are well-versed in the relevant jurisdictions. They can help ensure that the NDA is compliant with all applicable laws and is properly tailored to protect your company's valuable information.
An NDA is a critical tool in your business's legal arsenal, but it's not a one-size-fits-all solution. Each international NDA should be crafted with care, keeping in mind the specific needs of your business, the nature of the information to be protected, and the laws of the relevant countries.
If you’re hiring contractors, you’re probably spending too much time on their payroll, contracts, and tax documents. Which is why we built Thera, which saves you 90% the time you spend on contractor paperwork each month.
With Thera, you can compliantly hire your contractors in 150+ countries, onboard them in minutes, and pay them all at once (in a click). It’s global contractor payroll, finally simplified.
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How will next year's tech and regulatory changes impact the way you run payroll? Explore how these payroll trends will transform global operations in 2024.
How will next year's tech and regulatory changes impact the way you run payroll? Explore how these payroll trends will transform global operations in 2024.
How will next year's tech and regulatory changes impact the way you run payroll? Explore how these payroll trends will transform global operations in 2024.
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*4.25% yield is sourced from FDIC's national rates as referenced on fdic.gov¹ Opening deposits and monthly service charges are required for select business checking accounts. Fees apply. Closing new accounts within 90 days of opening will result in a $20 early closure fee.
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Thera is a financial technology company, not a bank. U.S. Domestic Banking services are powered by Academy Bank, N.A, Member FDIC. Deposits held with Academy Bank, N.A are insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC) within applicable limitations. The Thera Visa® Debit Card are issued by Academy Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit and credit cards are accepted. Please see the back of your Card for its issuing bank.By clicking on some of the links above, you will leave the Thera website and be directed to a third-party website. The privacy practices of those third parties may differ from those of Thera. We recommend you review the privacy statements of those third party websites, as Thera is not responsible for those third parties' privacy or security practices.Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of Academy Bank, N.A. (“Bank”). Bank is not responsible for the accuracy of any content provided by author(s) or contributor(s).Third-party trademarks referenced for informational purposes only; no endorsements implied.
*4.25% yield is sourced from FDIC's national rates as referenced on fdic.gov¹ Opening deposits and monthly service charges are required for select business checking accounts. Fees apply. Closing new accounts within 90 days of opening will result in a $20 early closure fee.
² Pay domestic and international suppliers same day online with built in currency exchange. Fees and restrictions apply.
We prioritize your privacy. Our Privacy Policy details how we collect, use, and share your personal information. Contact us with any privacy questions. Using Thera signifies your agreement to our Terms of Service, Privacy Policy and Academy Bank’s Privacy Policy
² Pay domestic and international suppliers same day online with built in currency exchange. Fees and restrictions apply.
We prioritize your privacy. Our Privacy Policy details how we collect, use, and share your personal information. Contact us with any privacy questions. Using Thera signifies your agreement to our Terms of Service, Privacy Policy
