I’m looking at an NDA I’ve been asked to sign regarding discussing an invention with a potential partner.

They’re in the mfg business, I’m coming to them with an idea & prototype.

While I know it would be in my best interest to have a lawyer look over the agreement, the amount of money involved is so small that any potential profits would be tied up in getting a lawyer involved.

So, the question: my basic understanding of contract law is that some compensation (peppercorn principle) must transact for a contract to be binding. This agreement calls out none. Additionally, no penalties are called out in the NDA for breach of contract.

Should I worry about it?

Topics: law, contract, manufacturing, inventions, contracts, non-disclosure agreement, nda