discuss Confidentiality SUCKS

[MapleDots]

Confidentiality Sucks

I have had 3 big sales at 75k each and in each case I signed a confidentiality clause which prohibited me from talking about the domain.

In retrospect I find this really hampers my domaining business because I cannot give examples of my big sales to prospective client. Since I specialize in a unique targeted part of the market I rely on sales statistics to justify prices.

So here is my dilema...

I am in the midst of closing my biggest sale to date and it is well over the 200k mark. The problem is they want me to sign a confidentiality clause. I swore I would never sign another one and I am sticking to my guns. I turned them down flat and said no deal.

Now I know you are all thinking that was pretty stupid but I don't think so. First off, I don't think I will lose the deal and secondly I need my sales stats to target other sales.

The biggest players in the business regularly publish their sales statistics and they become like gods in the industry. They sell a domain based on the fact they got huge money for previous sales.

Looking for some feedback here from anyone who has had some larger sales.

 

[frostify]

Consider that part of the value of their offer includes the value of privacy as a client. Perhaps in their eyes (example: $200K sale), perhaps the domain is worth $150K to them and the privacy is worth $50K to them, they may offer $200K knowing that privacy is something of high value to them and a factor included with their offer for a domain you own, especially once you enter the 6 and 7 figure ranges. Confidentiality has it's value.

 

[Lox]

A NDA helps a business protect its trade secrets, patent in process, inventions etc. Simple as that. We've been riding NDA for 29 years now. (outside the domain industry and 2% correlated)
--
If I understood well, you want to become charismatic. Because charisma is the key that can open many doors; but being respected for what you've done in the past is more important.
--
( Most of our business comes from existing clients and personal recommendation. When we recommend other businesses/persons, their reputation is seen an extension of our values.)

Sign as many NDAs and stick to the Trust Network.

Regards

 

[namezest]

Well info is bound to be leaked accidentally , I also think some sales are not legitimate they are more ploys to attract more business to the industry at large. For 200k you can just mention a large sale with an undisclosed amount , UNDISCLOSED. Ah those are the ones that get people going with speculation over speculation....And you wanting to brag a little but content like the cat that got the cream..

 

[zurc.net]

Who cares what anyone knows.... keep selling names and making money. Give me a $200k sale and an NDA all day... Or make it in a clause that the NDA expires after X amount of days if it really matters that much to you.

 

[1Darko]

Outside of the domaining world I have signed some confidentiality agreements. Often such agreements or clauses have nothing to do with the intension of the buyer or the seller. Lawyers are putting them into sales contracts or create side agreements to protect the party in case of unpredicted xyz events. I would always ask why exactly the confidentiality is needed. It could be that the counterparty has no exact reason for it. If they would insist on it, you could increase your price with explanation that you will have to secure this information aditionally that it will not leak out from your organisation. People should be aware that a non disclousure agreement if violated can ruin you financially if the counterparty decides to go on the court.

Personally I like to find past domain sales data for comparison, Therefor I agree with @MapleDots about the sales confidentiality and related opportunity costs and reputation building. My advice to all would be take signed NDA's or CA's seriously because huge problems could accure by breaching them. This factor could also be an argument to through them out of the contract, imo!

 

[smartwebby]

Have the NDA expire after a certain time period, e.g. 1 year, as a middle ground. After that, you can spill the beans.

I think GeorgeK has stated the best and simplest solution imho. Will give the purchasing company ample time to protect themselves and also put privacy into place.

 

[d-e-x]

Who cares what anyone knows....

Well, if I have domain xxxxsex.com and I sell it for $20k and that sale you can find on NameBio maybe that will help you or anybody else to not sell your domain xxxxsex.com (which is way better than mine) for $50-$100 on NamePros for example?

Till now I have signed 2 NDAs and I am not talking about big sales ($3k - $30k range) and one of them I have signed with well known domainer! He will sell that domain for big $ for sure and he want to hide how much he gave for that domain. Now, I don't have a problem with that, I got my price and I wish him all the best and big ROI.

 

[.NJ]

This thread is becoming comedy central.

90% of domainers can barely sell names for what they even paid for them, and we are here discussing "confidentially" and "NDA's".

Not trying to be a Debbie Downer but let's come back to planet earth here.

I have completed hundreds sales with some quite large ones in my time.

To this day I have never been asked to sign an NDA with either a reseller or enduser.

Baby steps first before walking....

 

[uglydork]

I would just take the money - don't let pride get in the way, that's why wars start. Take the cash and move on to the next deal. Your reputation is solid or this wouldn't have sold. Its all good