Legal Question in Business Law in New York
Question about NDA
A friend and I are looking to start
an internet business based on an
original idea. We have not formed a
business yet and before we get
started, we would like to present
our idea to an engineer to
understand cost and technical
feasibility. Can we have the
engineer sign a NDA (non-disclosure
agreement) before our company is
even formed, or do we need to
have a LLC in place first? Thank you
in advance.
2 Answers from Attorneys
Re: Question about NDA
You certainly can have them sign the NDA first before the LLC is in place.
We handle these matters day in and day out. Please contact my office for further information. We would love to handle this one for you.
Re: Question about NDA
An NDA is a contract which can be entered into between individuals as well as entities. Hence, you can, as an individual, enter into an agreement with the engineer. As a preliminary suggestion, I would have the NDA provide you the ability to assign its obligations over to a new entity so that, if and when you open it, you can rely on the previously signed agreement.
I hope that this helps.
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