Caldwell, NJ asked in Business Law and Contracts for New Jersey

Q: Non Disclosure Agreements The accountant of 2 individuals interested in buying my business requested my financials.

Do I ask the accountant to sign the NDA also or just the potential buyers?

Thank you.

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2 Lawyer Answers

A: First off, congratulations on the interest in your business.

It will depend on how the NDA is drafted. Typically, an NDA will contain language such as:

"The Receiving Party, including its agents, employees, representatives, members (collectively, the "Receiving Party") agree to hold all information confidential."

That language, "agents, employees, representatives" etc. should be broad enough to protect you without getting the accountant to sign a separate NDA. In this situation, the accountant would be acting as an agent or representative of the prospective buyers.

Good luck, and congrats again.

Leonard R. Boyer
Leonard R. Boyer pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
  • Clifton, NJ
  • Licensed in New Jersey

A: What you really need to do is have a non-disclosure, non-compete and non-circumvent agreement signed by anyone and you should not do any of this without an attorney. With modern technology, you can be represented by any high-quality attorney in New Jersey irrespective of geography. Pick the best attorney you can find and remember one rule: a good attorney is generally never cheap, and a cheap attorney is generally never good so don't choose based on price.

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