Do I Need an NDA?
It often happens that customers while sharing the idea of a future mobile app with the development agency, get horrified of having their idea stolen. It is not for nothing. Since the concept of a new mobile app can be a starting point to a million-dollar success. Then, how to keep idea safe?
The best bet there might be the NDA.
What is the Non-Disclosure Agreement?
A Non-Disclosure Agreement (NDA) stands for the legal contract between two parties. The NDA oblige the parties to maintain the shared confidential information in the secret under all the circumstances.
In other words, the signed NDA is a legal guarantee that the agency you’ve hired for your app development will not share your idea (or any other confidential information) with no one outside the walls of the dev company.
It makes sense: as a business owner, you want to protect yourself from any risk.
Still, the NDA is often considered to be a poor substitute for the clients’ trust.
NDA ≠ TRUST and 100% GUARANTY?
As we’ve mentioned above, the NDA is signed to protect the mobile app idea. BUT! The idea is protected by and between the parties named in the document only. If your app concept could attract millions of users, the chances are high that the development of the very same idea has already started by some other development teams. Then, the NDA is not a salvation of ‘your idea’.
When do I need an NDA?
When you’re exchanging highly sensitive information. This point is especially important for finance and banking industry. As for the purposes of mobile app development, some extremely confidential information like passwords, bank account numbers, etc. might be shared with the development team.
When there is more than just idea shared. It is often unjustified to sign an NDA when there is nothing, except the idea. It turns to be much more useful and essential when some tangible confidential information, like business plan, wireframes, design, etc. that is going to be shared.
A properly compiled Non-Disclosure agreement can be incredibly important if applied to the right context. If there is nothing more than the idea you try to shelter with an NDA, it’s probably not worth it.
You should understand that the agency, you’ve hired for your mobile app development has something more important to protect – reputation. The reputable company won’t try to cheat you and ruin the image they’ve built for years.
That is one more reason why it is important to do a thorough research before choosing the development company to partner with.
Read also: How to Outsource Mobile App Development
Do you want to transform your idea into an outstanding mobile app with the respect to the shared confidential information? Contact us to rocket the market with a mobile app that would meet all the requirements of a sophisticated audience.