Most of you already know that many investors will not sign a nondisclosure agreement (NDA). Why? There are simply too many transaction costs. The most prominent transaction cost is that they are costly to maintain. Not only do you need to pay lawyers to draft the agreement, but we have to pay our lawyers to process the NDA as well. And if we signed an NDA for each company that we spoke with, we would be paying a lot of lawyer fees! On top of that, it would be nearly impossible to track with so many NDAs floating around. In spite of this, we are not saying that we are going to go around sharing your company secrets with the whole world. We are just saying that we aren’t going to sign an NDA every time one is handed to us. To see what we mean, check out this video:
Many of us at Tech-Rx have been in the industry for more years than we care to admit. Many at Tech-Rx have even started their own successful businesses! As a result, we understand and respect the need for confidentiality. We understand your concerns about sharing your secret formulas. And we know from firsthand experience that it may be uncomfortable, but please be assured that we have absolutely no interest in divulging your secrets to your competition. In fact, it is in our own best interests that you succeed!
The best business relationships are built on trust, mutual respect, teamwork, and integrity. For the sake of progress, innovation and good business practices, we uphold the terms and conditions of good ethics and trusted business practices and expect those with whom we deal to do the same. However, don’t expect us to sign an NDA.
-Nikki Griggs, Business and Marketing Associate, Tech-Rx