For most businesses, their data and creativity is their most valuable asset. But what happens if during your software development project your competitors are able to find details of your customers or copy your products and services? You could lose market share, investors, and even the value of your company. Even worse, the information you gave to your dedicated developers could fall into dangerous hands causing blackmail and financial loss for both you and/or your customers.
That’s why it’s so important to protect your intellectual property when doing any IT Outsourcing project or hiring Dedicated Developers. And one of the best ways to do that is to have any and all of your developers or software development company sign a non-disclosure agreement (NDA).
What is an NDA?
An NDA, or non-disclosure agreement, is a legal contract that outlines the confidential information that two parties agree to keep secret. NDAs are commonly used among businesses including the software development industry to protect trade secrets and key data, such as customer information, research data, source code, algorithms, and business plans.
Why is it important to protect your intellectual property?
There are many reasons why it’s important to protect your intellectual property. Here are just a few:
- To protect sensitive customer information: Customers may provide sensitive information such as account details, names, business data etc which falls under the trade secrets of the company and is hence part of intellectual property. Hence, a breach of your intellectual property can cause damage not only for your company but also for your customers.
- To maintain a competitive advantage: If your competitors are able to copy your products, they’ll be able to offer them at a lower price and take market share away from you.
- To attract investors: Investors are more likely to invest in a company with a strong intellectual property portfolio. If they feel that your data security is low, investors are likely to back out.
- To increase the value of your company: A company with a strong intellectual property portfolio is more valuable to potential buyers.
How to Ensure that the Dedicated Developers You Hire Sign an NDA
There are a few things you can do to ensure that the developers you hire sign an NDA:
- Make sure the NDA is tailored to your specific needs. There are many different types of NDAs, so it’s important to choose one that’s right for your company. You may want to have an attorney review the NDA before you give it to your developers to sign. Some development companies, such as Era Biz, also have their own NDA document that you can review and sign directly.
- Explain to the developers why the NDA is important. Some dedicated developers may be reluctant to sign NDAs. Let them know that the NDA is necessary to protect your trade secrets and intellectual property.
- Have the developers sign the NDA before they begin working on your project. This will help to ensure that they’re aware of their obligations and that they agree to keep your confidential information confidential.
How to Monitor to Ensure that they’re complying with the NDA
Once the developers have signed an NDA, it’s important to monitor their work to ensure that they’re complying with its terms. Here are a few tips:
- Limit access to confidential information. Only give access to confidential information to developers who need it to do their jobs.
- Use secure technology. Protect your confidential information with strong passwords, encryption, and other security measures.
- Conduct regular security audits. This will help to identify any security vulnerabilities in your systems.
The Harsh Truth: What to do if a Dedicated Developer breaches the NDA
If you discover that a dedicated developer has breached the NDA by attempting to illegally access secure files that they were not given access to or caused an external breach of information, you should take immediate action to prevent further damage. This may involve contacting an attorney and filing a lawsuit against the developer.
You may also want to consider taking the following steps:
- Change your passwords and security measures. This will help to prevent the developer from accessing your confidential information again.
- Notify your customers and partners of the breach. This will help to protect them from any potential harm.
- Report the breach to the appropriate authorities. This may be required by law.
Additional Tips to Help Protect Your Information:
- Use a standard NDA template. There are a number of standardized NDA templates available online for free.
- Have your attorney review the NDA. It’s always a good idea to have your attorney review any legal documents, including NDAs, before you sign them.
- Educate your developers about the importance of protecting intellectual property. Era Biz provides training to our developers on the importance of protecting intellectual property and how to comply with NDAs.
- Have a plan in place for dealing with NDA breaches. This is of key importance. Era Biz has a plan in place for dealing with NDA breaches. The plan includes steps to mitigate the damage caused by the breach and to protect our customers and partners.
By following these tips, you can help to ensure that your intellectual property is safe and that your developers are complying with NDAs.
Why Era Biz is the Best Choice for your Software Development Needs
At Era Biz, we understand the importance of protecting your intellectual property. That’s why we have a number of policies and procedures in place to ensure that your confidential information is safe and secure.
For example, all of our developers are required to sign an NDA before they begin working on any project. We also have dedicated personnel responsible for monitoring our systems and networks for any potential threats.
In addition, we offer a variety of other services that can help you to protect your intellectual property, such as:
- Code review: Our experienced code reviewers can help you to identify and fix any security vulnerabilities in your code.
- Security testing: We can conduct a variety of security tests on your software to ensure that it is secure from attack.
- Intellectual property management: We can help you to develop and implement a comprehensive intellectual property management strategy.
If you are looking for a software development partner that can help you to protect your intellectual property, Era Biz is the best choice for you. Contact us today to learn more about our services and how we can help you to achieve your business goals.
How Era Biz Can Help You to Protect your Intellectual Property
Era Biz can help you to protect your intellectual property in a number of ways, including:
- Developing a customized intellectual property protection plan: We will work with you to understand your unique needs and develop a customized plan to protect your intellectual property.
- Implementing security measures: We will implement a variety of security measures to protect your intellectual property, such as NDAs, code reviews, and security testing.
- Providing ongoing support and monitoring: We will provide ongoing support and monitoring to ensure that your intellectual property remains safe and secure.
Conclusion
Protecting your intellectual property is essential for any software development company. By following the steps outlined above, you can help to ensure that your trade secrets and confidential information are safe.
Contact Era Biz today to learn more about how we can help you to protect your intellectual property and achieve your business goals. Read our full blog post on hiring Dedicated Developers for more information.
