Backdating training contract Shuffle chat
This way the language of the non-disclosure agreement can be very specific.
Otherwise, the Recipient Party isn’t likely to sign the agreement at all, recognizing that they may be in breach the moment they put their John Hancock on it.
The situation should be approached professionally and there will need to be something in it for the other party.
In other words, if you suddenly realize that you once disclosed a vague design to a potential partner that’s now transformed into a full-blown money making system, you can’t just ask that one-time potential partner to keep it confidential now without any incentive for them.
So, many contracts and agreements are considered and negotiated after trade has begun or eager discussions have already taken place – sometimes months past. Thankfully, most jurisdictions allow for contracts, including NDA’s, to be signed with a retroactive date.
While there are a number of other issues that can arise from an agreement with a retroactive date, these are some of the most common because they’re often overlooked during drafting.Hindsight is always 20/20 and so it goes in the professional world, as well.Sometimes our mouths move faster than our brains and business moves faster than our keyboards.One of the most straightforward ways to backdate the agreement is to not backdate it at all. If you’ve already disclosed proprietary or confidential information but you’re ready to confidently move forward with the other party and all necessary conversations have taken place, one option is to draft the non-disclosure agreement with an identical effective and execution date, as is usual, but include a clause that covers past disclosures.An example of this kind of clause from Docracy: This may not always be your best option, but if you’re fairly certain that your past disclosures have been in good hands and there’s no other reason to backdate the entire agreement, then this clause may cover all your bases.