Tell Me No Secrets
You may be turning VCs off if you're asking them to sign a nondisclosure agreement.
By David Worrell •
Opinions expressed by Entrepreneur contributors are their own.
The business plan that arrived in the mail looked normal enough.But as the VC turned the very first page, an ominous legal documentstopped him dead in his tracks. The page was a verbose, ramblingnondisclosure agreement--the dreaded NDA. The VC recoiled in horrorand pitched the packet into the shredder.
Sound like pulp fiction? It's not. Entrepreneurs everywhereare setting themselves up to fail by using nondisclosure agreementsinappropriately. All too often, entrepreneurs insist onsecrecy--for their technology, their business plans, even theircore idea--to the detriment of funding, partnerships, press andeven sales.
Continue reading this article — and all of our other premium content with Entrepreneur+
For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:
- Digestible insight on how to be a better entrepreneur and leader
- Lessons for starting and growing a business from our expert network of CEOs and founders
- Meaningful content to help you make sharper decisions
- Business and life hacks to help you stay ahead of the curve
