Bonterms Mutual NDA Explainer
If you are reading this it likely means someone has just proposed that you sign the Bonterms Mutual NDA. We appreciate the opportunity to explain what our form is all about and why it might be the perfect fit for your situation.
We describe our forms as best-practice, balanced and open source:
- Best-practice? The Mutual NDA was drafted and extensively reviewed by a 35-member Open Source Forms Committee of in-house and law firm lawyers. They took the task seriously. The Mutual NDA went through four major drafts and multiple meetings, surveys and discussions across four months.
- Balanced? The Mutual NDA is designed to meet the needs of both parties and not inherently favor either.
- Open source? The Mutual NDA is free to use under CC BY 4.0.
The Bonterms Mutual NDA is implemented through a simple Cover Page in which you fill in the Effective Date, Purpose and other Key Terms and specify any changes to the standard terms in the space for Additional Changes. Step-by-step how to guidance is here.
What are the benefits of starting with the Bonterms Mutual NDA? You skip the battle over whose form to use and move straight to a balanced, best-practice form that works for both parties.
We stamp every Bonterms open source form “review once, use many.” We hope you will in fact review and use the Bonterms Mutual NDA. Either way, we’d love to hear from you and answer any questions you may have at email@example.com.