There is certainly a lack of publicly available and easily digestible legal information for Entrepreneurs and their Investors in the UAE. Because of that inaccessibility, a lot of first-time founders resort to using completely irrelevant contract templates that they find online. Those were drafted with foreign laws and practices in mind, which becomes problematic when a dispute arises under that contract and the entrepreneur discovers that the contract is governed by New York laws or that the place of arbitration is Montreal.
A Confidentiality Agreement (CA) also sometimes called a Non-Disclosure Agreement or NDA is an essential legal document for your business. During your entrepreneurial journey, you are going to be speaking to a large number of people about your idea and what makes your business unique.
Don’t launch without these essential documents!
Congratulations, you have a great idea for your startup!
So, you are at cross roads. On the one hand, it is natural that you want to tell everyone about your idea, to gain feedback and to engage with potential investors. On the other hand, you realise that consideration should be given to the protection of this asset of your business.
Here are a few considerations to keep in mind next time you share your idea: