ICYMI--MMT Chats: The 12 Sins of Non-Disclosure Agreements

^{This episode is brought to you by ISCAR with New Ideas for Machining Intelligently.}

A few readers have reached out to me recently seeking guidance and insight on non-disclosure agreements and manufacturing service agreements as legal contracts.

Current MMT EAB member and manufacturing and tooling business development executive Mark Gauvain first defines an NDA and then provide a foundation for the small to mid-size mold builder who is challenged with understanding the legitimacy of an NDA when it comes to protecting themselves … maybe even without having to hire a legal team.

Mark runs through these 12 deadly sins of nondisclosure agreements:

1. Epidemic Failure and/or Recall
2. Indemnification for third party claims by the customer
3. Indemnification for third party claims by the manufacturer
4. Late delivery penalties
5. Termination/Transition Assistance
6. Materials Cancellation, Reschedule, Excess & Obsolete Inventory
7. Warranty Remedy, Warranty Period & Disclaimer
8. Component Liability
9. Exclusivity or Non-Compete
10. Intellectual Property
11. Guaranteed Cost Reductions
12. Liability Cap

Watch the full video chat above, and for more MMT Chats, visit our archive of on-demand video interviews here.

This episode is brought to you by ISCAR with New Ideas for Machining Intelligently.