Today I rejected another business/legal contract, and I made a video of approximately one hour to discuss the experience and the underlying principles behind it.
I’m not exactly at home right now with my computer plugged in so I don’t have the ability/battery to spend the required two hours to edit the video so I’ll try to get it done tomorrow (or this weekend) and upload it a bit more polished.
In the meanwhile, however, I want go through the six (6) major points of the video and the conversation.
You’ll see a lot of these concepts foreshadowed in yesterday‘s video which I will link here and below.
The video that I recorded today and will post tomorrow/over the weekend includes the six (6) following major components, ranging from legal to psychosocial.
Mutual non-disclosure agreements – In any business interaction between two separate business entities, the work/finances/agreements are going to be described eventually within a contract and one of the initial contracts could easily be a non-disclosure agreement or NDA. A mutual NDA allows the two separate businesses to begin talking with the agreement that they will not disclose any business or personal secrets or advantages while they are in those preliminary conversations before they’ve moved onto a formal prospective agreement.
Agree: What are the consequences of signing an NDA contract?
Reject: What are the consequences of rejecting an NDA contract?
Empower: Why should you wait on the other group to provide you an NDA when you could easily write your own with a day’s worth of effort?
Replies and requests for document changes – Anytime you’re reading a legal document you should be prepared first of all to reject it. In my experience, roughly 30 to 40% of documents are not only unacceptable but they are actually offensive because they are written to protect and give advantage to whoever wrote or paid for the document. In the new NDA that I read and described this morning, the document should’ve been a mutual NDA, but ended up being clearly written to only protect the other side, which made the document completely disagreeable.
Should I reply to them?
How should I reply to them?
What are the criteria by which I should base my reply or lack of reply?
Should I request a change in the contract?
Should I completely ignore them and block them for any future contact?
What are the consequences or advantages for each of the above?
