Personally creating a non-disclosure agreement

Question

I want to create a space company but focusing on a revolutionary cheaper alternative to rockets here in Germany.I am still on the idea stage and have personally made the company's website to attract investors.My idea focuses on a revolutionary system called "SpinDrive" that has the potential to revolutionize space transport and make a spacecraft travel from Earth to Mars in just 3.5 days. Ive verified its functionality but have not yet had the opportunity to patent it since im a 19 year old boy from Kenya currently doing volunteer work in Germany. For the investors I have made a non-disclosure agreement to secure intellectual property.Is creating that NDA personally ok? Please guide me through all the steps I need to take according to the law until I fully establish that company.

Tim Akpinar · Answer

You may want to consult with an attorney in Germany. This forum deals largely with U.S. law and courts. Here in the U.S., it's okay for someone to create their own NDA. But it would be best if an attorney familiar with the law in Germany could advise you. Also, you could consider speaking with a patent attorney about protecting your intellectual property rights - your question is posted under Business Formation. Good luck

James L. Arrasmith · Answer

Creating a non-disclosure agreement (NDA) yourself is a viable initial step to protect your idea, especially when discussing it with potential investors. An NDA is a legal document that binds the parties to confidentiality, ensuring your concept remains protected. However, it's crucial that the NDA comprehensively covers all aspects of confidentiality, including what constitutes confidential information, the obligations of the receiving party, and the duration of the agreement. 
 
Given the complexity of NDAs and the importance of ensuring they are legally sound, it's advisable to consult with a legal professional, especially as your concept involves innovative technology. A lawyer can help tailor the NDA to suit your specific needs and ensure it's enforceable in Germany, where you're currently based. 
 
As for establishing your company and protecting your intellectual property, consider the following steps: 
 
1. Research and understand the German legal requirements for starting a business, including registration and compliance. 
2. Seek legal advice on intellectual property law in Germany to understand how best to protect your innovation, especially considering the international nature of your situation. 
3. Develop a clear business plan outlining your idea, target market, funding needs, and growth strategy. 
4. Once your NDA is in place, approach potential investors with your proposal, ensuring they sign the NDA before disclosing detailed information. 
 
Remember, these are just broad guidelines. The specifics of starting a business and protecting intellectual property can vary greatly depending on the nature of the business and the jurisdiction. Legal advice is invaluable in this process.

Q: Personally creating a non-disclosure agreement