1 Click Contracts

One Click Contracts: Non-Disclosure Agreements (NDA)

1 Click- NDA-16

Each week, PactSafe will discuss and post about specific standardized agreements and how they can be turned into one-click contracts. Earlier this week, we covered Stock Option Grants. This week, we're focusing on Non Disclosure Agreements (NDAs): what it is, why its typically signing method isn't ideal, and how it can be turned into a one click contract on the PactSafe platform.

What Is A 1-Click Contract?

A one click contract is like any other contract, but it's presented in a way that allows the person signing it to do so by simply clicking on it. With very few exceptions, any contract can be signed with a single click on a website, from a phone, in an email -  anywhere you meet your customers digitally, you can deliver a 1-click contract.

What Is a Non Disclosure Agreement (NDA)?

A non-disclosure agreement (NDA) outlines confidential material or information that the parties wish to share with one another, but also wish to restrict access to.

Who signs an NDA?

An NDA is signed by two or more companies, individuals or other entities that are considering doing business together.

How is an NDA typically signed?

NDAs are typically signed using traditional eSignature, where the agreement is delivered to a specific individual every time an NDA is required to be signed.

Why is this signing method not ideal for an NDA?

For the most part, companies will use a standardized NDAs across their business. Additionally, the receiving party is only being asked to provide their signature – no other details or information is being filled in as part of the signature process. A lot of time is wasted going through the manual process of sending individual eSignature envelopes, just to get a single signature on the agreement.

How to turn an NDA into a 1-click Contract

How does an NDA work as a 1-click contract?

In the case of a mutual NDA, a company could simply pre-sign the agreement along with language noting its acceptance of the terms, and then only require “click-to-sign” acceptance from the receiving party. This standard NDA can be published and shared with any number of other companies or individuals for acceptance going forward.

Why does an NDA work better as a 1-click contract?

Since there is no additional information being captured beyond acceptance, there is no need for the parties to go through the trouble of placing a signature field or attempting to draw their signature on screen. The terms can simply be read and accepted with the click of a button.

Is a 1-click contract legally binding?

1-click contracts are absolutely binding. Also known as “clickwraps,” courts have enforced millions of contracts accepted by a single click. PactSafe’s platform was built to help ensure 1-click contracts are created in compliance with all the best practices established in 1000’s of court cases over the past 20+ years.

DEMO: What an NDA Looks like as a 1-Click Contract in PactSafe

nda-one-click-demo

Learn about PactSafe's Contactless Contracting and Policy Kit 

Contactless Contract and Policy Kit


Don’t miss out!

Want the latest news, tips and best practices for high-velocity acceptance? Subscribe to our newsletter.