Do You Need a Non-Disclosure Agreement to Protect Your Idea?

Everyone wants to know: Do I need an NDA? Why won't that company sign my NDA? Too many people are under the impression that the only thing they need to protect themselves is an NDA. Not true! Patent attorney Damon Kali and inventRight cofounders Stephen Key and Andrew Krauss discuss.
Disclaimer: The views and opinions expressed here are solely for educational purposes and should not be construed as specific legal advice as specific legal advice is highly fact dependent. For specific legal advice, the viewer should retain competent legal counsel. In addition, the views and opinions expressed here do not represent the positions or policies of the United States Patent and Trademark Office.
inventRight is a one-on-one coaching program that has helped people from more than 40 countries license their ideas for new products. It was founded by Andrew Krauss and Stephen Key in 2001. Visit www.inventright... for more information and to become their student.
Call #1-800-701-7993 to set up an appointment with Andrew or another member of the inventRight team to discuss how we can help you license your ideas.
New to licensing? Read inventRight cofounder Stephen Key’s bestselling book “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: amzn.to/1LGotjB.
Want to learn how to license your product ideas without a patent? Stephen's book “Sell Your Ideas With or Without a Patent” explains exactly how. Find it here: amzn.to/1T1dOU2.
inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC, its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies.

[@coxdesigns2509]

I've followed every step read the book and IM IN THE GAME!! Even if nothing turns out as of now it's a GREAT feeling to just call companies send in sell sheets!! Thank you all for all the info!!

[@inventRight]

That's so, so awesome. Thanks for sharing!

[@Dan0rioN]

@@inventRight I have an idea for a multi trillion dollar revolutionary product of the century... I must prepare to execute this pitch to a major retailor without a patent bc I can't afford something that china don't care about anyways.. Plz get back to me with any advice

[@T70781]

Thanks for the info. Its always good to drill these things in. Its easy to forget when you get in the midst of talking with companies. Its reassuring to hear it from Damen.

[@Dapper_Dean]

Even if they did steal your idea. How much power does an ordinary person really have, to notify the inventors/product developers' community to make them aware of their bad deed???

[@jeffmangus8346]

excellent as always!!! You guys are the best!!

[@augggie]

If somebody runs their mouth, there’s other ways of dealing with it😂😂😂

[@jonnytrux3697]

So with my PPA I really should not even need a NDA . Right ?

[@richardthorpe1741]

Hi guy's, another great video thanks. can I just ask? is it necessary to file "claims" in your ppa? or is that something you'd advise against at the early stage? Thanks again :)

[@anyatrietsch8017]

Question: Is it possible that you develop such a good relationship with your licensing company who licensed one of your “patent pending” products before and you eventually don’t need to do PPA’s because you will always be giving them new ideas?

[@inventRight]

In some industries, exactly that might happen - some care less about IP than others.

[@anyatrietsch8017]

Thank you for the reply, may I ask which industries those would typically be?

[@kenspillman7428]

Thanks guys , I am learning a lot from your videos. Being a Canuck , would it be wise to do a ppa in Canada first or USA first? cheers Ken Spillman

[@parassharma1755]

Thanks @ inventRightTV...You guys are helping many people.. As to what I understand from this , if one has a PPA s/he really shouldn't bother about NDA..However if it is suggested to have an NDA along with PPA, is there any format for it. Can one draft on his own..Appreciate if someone can clarify....Thx again..

[@inventRight]

You can search Google for examples of non-disclosure agreements. IPWatchdog.com has more resources: www.ipwatchdog.com/tradesecret/sample-confidentiality-agreements/. And here's more on the relationship between PPAs and NDAs! www.inc.com/stephen-key/what-to-do-when-your-provisional-patent-application-is-about-to-expire.html. Thanks for watching!

[@sthom1079]

What if there is clause in the NDA that is questionable. Should I push back and ask for revisions or removal of questionable clause? And if they won’t make revisions should I move on and not do business with them?

[@inventRight]

Negotiating licensing contracts - including non-disclosure agreements - is one of our specialties. Find out more about how we can help: www.inventright.com/contact

[@anyatrietsch8017]

Hello again, I have a question. When you file a PPA what are the different scenarios that would cause you to lose your “patent pending” rights? Thank you!

[@inventRight]

This question is better directed to a legal professional, which we are not. Thank you for watching!

[@coleworld4385]

inventRightTV BUT YOURE DISCUSSING LEGALITIES LIKE YOU ARE!?!

[@rick5653]

Can you do a video on how to submit a formula PPA please

[@hamzi123-d9z]

Hello please i have a question that is so important please help: I will go and see an investor in Dubai and then another one in India, and i want to know if PPA’s are only valide in Us or also in other countries? Thank you so much for the informations that your sharing !

[@coxdesigns2509]

How do you get a ppa for just a design change. For example like back board idea it was just a design change no mechanism of intellectual property? I have a design change on something that works already

[@stephenkey3137]

You might consider a design patent.

[@kinistonjames91]

I can't afford 1800 for a ppa at the moment, and it's not easy to write a %100 correct patent description considering has has to be properly filed the first time... any suggestions?

[@inventRight]

Read Stephen's book Sell Your Ideas With or Without a Patent, which will teach you how to write your own PPA for $65: www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733.

[@alexforst8171]

I have an idea for a product which effects ones daily life and is a more efficient way of doing so. Will be used daily in the kitchen as well as by athletes. Where do I go from here?

[@inventRight]

Pick up a copy of Stephen Key's award winning book on how to license an idea in 10 simple steps: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676. It's the quickest and best way to get familiar with the licensing process. Thanks for watching!

[@erica7268]

But you cannot file a PPA for a design patent correct?

[@inventRight]

Correct. Here's more information on design patents: www.inc.com/stephen-key/how-to-license-a-design-patent.html

[@trzagor2769]

I recently approached a prototype company for a Non-terminating agreement NDA in UK, and I was told that: For any contract/agreement to be valid, it must have a start and end date meaning (2, 3 to 5 years’ time limit). While a perpetual time limit would invalidate the non-disclosure agreement. (Is that assessment accurate???).

[@inventRight]

We give business advice not legal. Please consult an attorney. Thanks for watching.

[@coleworld4385]

Do NOT discuss legal issues like you’re a legal professional please. Thank you.