Founder toolkit
The Founder-Friendly NDA Guide: When to Use It (And When It’s Slowing You Down)
Healthcare and deep tech founders love NDAs. But here’s the truth: most of the time, it’s not your idea that needs protecting — it’s your execution that needs refining.
If you’ve spent any time building in healthcare, AI, or deep tech — chances are you’ve either sent or been asked for an NDA (Non-Disclosure Agreement).
And I get it.
Your product is complex. Your science is real. Your data might be proprietary.
But here’s where so many early-stage founders get stuck:
They treat every conversation like it requires legal protection — when, in reality, what kills most early fundraising and partnership momentum isn’t IP theft…it’s lack of clarity, traction, or trust.
What NDAs Are Actually For:
NDAs are important — but they have a time and place.
→ Sensitive data
→ Proprietary algorithms
→ Commercial deal terms
→ Pharma or clinical partnerships
→ Manufacturing, licensing, or regulatory disclosure
Absolutely fair game.
But your pitch deck? Your market slide? Your GTM strategy?
These are designed to be shared.
Here’s My Rule of Thumb for NDAs:
When NDAs Make Sense:
• Proprietary clinical data or unpublished trial results
• AI/ML model architecture details
• Pharma manufacturing, licensing, or deal specifics
• Deep diligence for investors after a term sheet
When NDAs Slow You Down:
• First investor pitch
• Market validation conversations
• Accelerator or conference intros
• Sharing a high-level product narrative
Pro Tip for Pitch Decks:
If you feel your pitch deck needs an NDA before sharing…
→ Rework your deck.
Your pitch should never include:
• Source code
• Proprietary formulas or algorithms
• Confidential customer data
• Detailed IP filings
Your pitch should include:
• The size of the problem
• Why your solution is credible
• Market timing & traction
• Vision & team strength
So… When Will Investors Sign an NDA?
Typically:
• Late-stage diligence (post-term sheet)
• Reviewing sensitive financials or proprietary data
• Finalizing pharma or commercial partnerships
Early pitch? No NDA.
Deep diligence? Absolutely.
Experienced investors expect this rhythm.
The Real Moat Isn’t Your NDA — It’s Your Execution
Startups win because they learn faster, build smarter, and connect deeply with customers.
Execution is your protection.
Speed is your moat.
Trust is your currency.
Don’t get stuck protecting an idea nobody has time (or context) to copy — while someone else is out there building.
Final Checklist: Do You Really Need an NDA?
→ You probably need an NDA when you’re sharing:
• Proprietary data models or clinical algorithms
• Unpublished clinical trial results or sensitive research
• Deal terms, IP details, or confidential commercial agreements
• Manufacturing processes or licensing discussions
• Pharma, biopharma, or enterprise negotiation details
→ You probably don’t need an NDA when you’re sharing:
• Your pitch deck (excluding highly sensitive data)
• High-level product descriptions or solution overviews
• Market size, industry problem statements, or trends
• Go-to-market strategy at a broad level
• Initial discovery or validation conversations with potential partners or investors
Want help refining your pitch or strategy so you can share confidently without oversharing?