Question
We are two founders looking for 2-3 more team members to launch our startup. We would like to discuss the business model, product iterations, strategy etc to some degree with potential team members during the interviews, so we were wondering if we should use NDAs to protect us. Does that make sense or should we only use NDAs after the actual hiring?
Answers: 2 public & 0 private
In a word - YES. However, be careful of "boilerplate" NDA's, for that matter all "boilerplate" agreements. Truly effective agreements require an understanding of your specific situation in order to be tailored appropriately. I cringe when I hear, "oh it is boilerplate." I have seen too many of these types of agreements blow-up. I have also seen plenty of attorney written agreements blow-up as well, but more often than not it is because the attorney failed to take the time to understand the situation entirely and put together an agreement that memorializes what needs to be done. For NDA's the type of agreement you would have with a potential founder who will be working in the company, is very different than someone who is going to come on board for funding purposes. Those each very different than discussing your business with a potential customer. All this is to say, an NDA needs to be customized to meet the specifics of the situation.
Happy to assist if you need.
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