When A Supplier Should Sign Your NDA<\/h1><\/div><\/div><\/div>Are You Using NDA’s In These Sensitive Situations?<\/h2><\/div><\/div><\/div>NDA stands for “non-disclosure agreement.” An NDA is a contractual document between two parties where one or both agree to not share certain information provided by the other party.<\/p>\n
As a procurement professional, you are always exchanging information with individuals outside of your organization, mostly suppliers. And that’s OK. But there is some information that you need to protect more carefully than other information.<\/p>\n
Here are four situations where asking your supplier to sign an NDA might be a good idea. Of course, you should consult your legal department to decide for sure as this article should not be construed to be legal advice.<\/p>\n
Situation #1: When sharing proprietary specifications.<\/strong>\u00a0If your organization’s proprietary specifications got into the wrong hands, your organization could lose a competitive advantage or be subject to some other risk. Therefore, when sharing these specifications, there may be a need for the recipient to sign an NDA. This may be required even before you issue an RFP\/RFQ to prospective suppliers.<\/p>\nSituation #2: When a supplier visits your facility.<\/strong>\u00a0During a supplier visit to your facility, that supplier may observe proprietary processes or other things that you wouldn’t want outsiders to know about. As such, getting the supplier to sign an NDA may be a good idea.<\/p>\nSituation #3: When collaborating on new product\/service design.<\/strong>\u00a0Launching a new product or service is a key way that organizations stay ahead of their competition. The sooner competitors know about a new product or service that your organization has developed, the sooner they can copy it and recapture market share. Therefore, an NDA should be considered.<\/p>\nSituation #4: When engaging in consulting with a supplier.<\/strong>\u00a0When being consulted in the hopes of making improvements, an organization is likely to reveal certain information not intended for public knowledge. Therefore, you may want to require the supplier with whom you are consulting – even if that supplier is not, by definition, a consultant – to sign an NDA.<\/p>\nRecommended reading:<\/strong><\/p>\n\n- Dual Source: A Panacea?<\/a><\/li>\n
- Back To The Dual vs. Single Source Quest<\/a><\/li>\n
- Benefits of Single Sourcing<\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div>
Do You Want a More Rewarding Procurement Career?<\/h5><\/div>![](\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/12\/spsm_verify.jpg\" "\\"spsm_verify\\"")
<\/span><\/div>Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Well, guess what? Nothing will change unless you take action towards becoming a world-class procurement professional.<\/p>\n
Earning your SPSM Certification is the action to take if you want to bring the most modern procurement practices into your organization and achieve your career potential. Download the SPSM Certification Guide today to learn how to get started on your journey to a more rewarding procurement career!<\/p>\n<\/div>
Download<\/span><\/a><\/div><\/div><\/div>Need Better Performance From Your Procurement Team?<\/h5><\/div>![](\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/12\/services.jpg\" "\\"services\\"")
<\/span><\/div>Are you a procurement leader whose team isn\u2019t achieving the results you know are possible? Maybe it\u2019s not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.<\/p>\n
You need a performance improvement plan that\u2019s easy to implement and quick to produce results. The NLPA can help.<\/p>\n
Download our whitepaper \u201cThe Procurement Leader\u2019s Guide To A More Successful Team.\u201d You\u2019ll learn the 7 steps for transforming your staff into a results-producing, world-class procurement team.<\/p>\n<\/div>
Are You Using NDA’s In These Sensitive Situations?<\/h2><\/div><\/div><\/div>NDA stands for “non-disclosure agreement.” An NDA is a contractual document between two parties where one or both agree to not share certain information provided by the other party.<\/p>\n
As a procurement professional, you are always exchanging information with individuals outside of your organization, mostly suppliers. And that’s OK. But there is some information that you need to protect more carefully than other information.<\/p>\n
Here are four situations where asking your supplier to sign an NDA might be a good idea. Of course, you should consult your legal department to decide for sure as this article should not be construed to be legal advice.<\/p>\n
Situation #1: When sharing proprietary specifications.<\/strong>\u00a0If your organization’s proprietary specifications got into the wrong hands, your organization could lose a competitive advantage or be subject to some other risk. Therefore, when sharing these specifications, there may be a need for the recipient to sign an NDA. This may be required even before you issue an RFP\/RFQ to prospective suppliers.<\/p>\nSituation #2: When a supplier visits your facility.<\/strong>\u00a0During a supplier visit to your facility, that supplier may observe proprietary processes or other things that you wouldn’t want outsiders to know about. As such, getting the supplier to sign an NDA may be a good idea.<\/p>\nSituation #3: When collaborating on new product\/service design.<\/strong>\u00a0Launching a new product or service is a key way that organizations stay ahead of their competition. The sooner competitors know about a new product or service that your organization has developed, the sooner they can copy it and recapture market share. Therefore, an NDA should be considered.<\/p>\nSituation #4: When engaging in consulting with a supplier.<\/strong>\u00a0When being consulted in the hopes of making improvements, an organization is likely to reveal certain information not intended for public knowledge. Therefore, you may want to require the supplier with whom you are consulting – even if that supplier is not, by definition, a consultant – to sign an NDA.<\/p>\nRecommended reading:<\/strong><\/p>\n\n- Dual Source: A Panacea?<\/a><\/li>\n
- Back To The Dual vs. Single Source Quest<\/a><\/li>\n
- Benefits of Single Sourcing<\/a><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div>
Do You Want a More Rewarding Procurement Career?<\/h5><\/div><\/span><\/div>Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Well, guess what? Nothing will change unless you take action towards becoming a world-class procurement professional.<\/p>\n
Earning your SPSM Certification is the action to take if you want to bring the most modern procurement practices into your organization and achieve your career potential. Download the SPSM Certification Guide today to learn how to get started on your journey to a more rewarding procurement career!<\/p>\n<\/div>
Download<\/span><\/a><\/div><\/div><\/div>Need Better Performance From Your Procurement Team?<\/h5><\/div><\/span><\/div>Are you a procurement leader whose team isn\u2019t achieving the results you know are possible? Maybe it\u2019s not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.<\/p>\n
You need a performance improvement plan that\u2019s easy to implement and quick to produce results. The NLPA can help.<\/p>\n
Download our whitepaper \u201cThe Procurement Leader\u2019s Guide To A More Successful Team.\u201d You\u2019ll learn the 7 steps for transforming your staff into a results-producing, world-class procurement team.<\/p>\n<\/div>
NDA stands for “non-disclosure agreement.” An NDA is a contractual document between two parties where one or both agree to not share certain information provided by the other party.<\/p>\n
As a procurement professional, you are always exchanging information with individuals outside of your organization, mostly suppliers. And that’s OK. But there is some information that you need to protect more carefully than other information.<\/p>\n
Here are four situations where asking your supplier to sign an NDA might be a good idea. Of course, you should consult your legal department to decide for sure as this article should not be construed to be legal advice.<\/p>\n
Situation #1: When sharing proprietary specifications.<\/strong>\u00a0If your organization’s proprietary specifications got into the wrong hands, your organization could lose a competitive advantage or be subject to some other risk. Therefore, when sharing these specifications, there may be a need for the recipient to sign an NDA. This may be required even before you issue an RFP\/RFQ to prospective suppliers.<\/p>\n Situation #2: When a supplier visits your facility.<\/strong>\u00a0During a supplier visit to your facility, that supplier may observe proprietary processes or other things that you wouldn’t want outsiders to know about. As such, getting the supplier to sign an NDA may be a good idea.<\/p>\n Situation #3: When collaborating on new product\/service design.<\/strong>\u00a0Launching a new product or service is a key way that organizations stay ahead of their competition. The sooner competitors know about a new product or service that your organization has developed, the sooner they can copy it and recapture market share. Therefore, an NDA should be considered.<\/p>\n Situation #4: When engaging in consulting with a supplier.<\/strong>\u00a0When being consulted in the hopes of making improvements, an organization is likely to reveal certain information not intended for public knowledge. Therefore, you may want to require the supplier with whom you are consulting – even if that supplier is not, by definition, a consultant – to sign an NDA.<\/p>\n Recommended reading:<\/strong><\/p>\n Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Well, guess what? Nothing will change unless you take action towards becoming a world-class procurement professional.<\/p>\n Earning your SPSM Certification is the action to take if you want to bring the most modern procurement practices into your organization and achieve your career potential. Download the SPSM Certification Guide today to learn how to get started on your journey to a more rewarding procurement career!<\/p>\n<\/div> Are you a procurement leader whose team isn\u2019t achieving the results you know are possible? Maybe it\u2019s not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.<\/p>\n You need a performance improvement plan that\u2019s easy to implement and quick to produce results. The NLPA can help.<\/p>\n Download our whitepaper \u201cThe Procurement Leader\u2019s Guide To A More Successful Team.\u201d You\u2019ll learn the 7 steps for transforming your staff into a results-producing, world-class procurement team.<\/p>\n<\/div>\n
Do You Want a More Rewarding Procurement Career?<\/h5><\/div>
<\/span><\/div>Need Better Performance From Your Procurement Team?<\/h5><\/div>
<\/span><\/div>
![](\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/12\/services-contracting.jpg\" "\\"services-contracting\\"")
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