We are often asked about mutual non-disclosure agreements by prospective clients eager to discuss their beverage ideas.
Referred to as MNDAs in shorthand, mutual non-disclosure agreements are extremely common documents that allow individuals and businesses to fully discuss their confidential projects without fear that the other party will wrongfully use or disclose their confidential or proprietary information.
Without such agreements, parties that don’t know (or trust) each other, would be too fearful to explore working together. They became widely used as part of the “tech revolution” where all sorts of individuals and companies needed to explore project.
Our perspective clients do not know us and they have no basis to appreciate that we keep everything confidential. For over 21 years, our business has been built by creating beverages for others; we own no brands of our own. Therefore, we know how to handle confidentiality. Still, we don’t want any confidential information exchanged prior to having a mutual nondisclosure agreement signed by us and our prospective clients.
Sometimes a prospective client might be “disclosing” confidential information to us – perhaps, their secret ingredients – or the name of the product/brand they want to create – and Flavorman would be “receiving” it. Conversely, we may need to discuss a proprietary process of our own. So, we make our standard MNDA agreement “mutual” to protect both parties regardless who might be disclosing or receiving in a particular instance.
As you might imagine, we invest a good deal of time responding to prospective clients and that is why we try to use a typical, and more importantly, mutual agreement! At Flavorman, we never want to make a prospective client feel uncomfortable. Our approach to new and all business is to be candid and open and to create a good and comfortable relationship. In our experience, all the concerns expressed in such agreements never come to pass.