SITECORE LAUNCH OF oneNDA
The Sitecore Legal team is constantly seeking new and creative ways to better serve our customers, counterparties and employees and become more innovative.
As part of this effort, we are excited to announce that Sitecore is now using oneNDA as our standard Non-Disclosure Agreement!
What is oneNDA?
oneNDA is a crowd-sourced, open-source mutual Non-Disclosure Agreement launched in September 2021. Since then, over 600 organisations, around the globe and across various industries, are now using this non-negotiable NDA template and we have seen widespread usage and adoption across the legal industry.
Why is Sitecore using oneNDA?
There are major benefits to using oneNDA, here are just a few:
- Reduces costs and saves time and effort
Using this standardized template, it reduces time spent reviewing and negotiating terms that are not market standard or add little to no value and removes the “battle of the forms”.
By getting deals done faster it allows Sitecore and our customers to save time, money and effort as well as freeing up our respective legal teams to spend time on work that delivers more value to the business.
At Sitecore we are always looking for ways to innovate and automate workflows. Negotiating an NDA can often be time-consuming and costly for legal teams and does not bring immediate financial benefits to the business. Using oneNDA allows for contract standardization and scalability, where legal teams can automate NDA workflows by e.g., making them self-serve and integrating with the latest e-signing capabilities.
- Fair and easy to understand terms
oneNDA is an independent NDA covering the key obligations you would typically expect to find in a non-disclosure agreement, without burdening the parties with unnecessary and overly onerous obligations. oneNDA was created collaboratively by a group of leading law firms and in-house teams with input from the wider legal community. The terms of oneNDA have been discussed extensively in order to make them balanced, fair, and easy to understand.
How does oneNDA work in practice?
If a non-disclosure agreement is required between Sitecore and your organization, Sitecore will populate the variable fields on the first page and send to you for signature. See an example oneNDA template for your reference.