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Originally Posted by Bagger Vance
One sided legal opinion but lawyers are generally paid to advise on protecting the interests of the instructing party so no surprise. You cannot fairly expect the other party not to have reciprocity. Yes the club may disclose information of a sensitive nature but its most certain when you ask for proof of funds that the other party will as well.
At the moment the way its structured any of the board or the board in its entirety may disclose the financial details of an interested party without penalty, that's just not right. NDA's must be fair and reciprocal. Otherwise rightly they may be deemed as a gate keeping procedure ensuring no right minded entity whether individual or corporate would sign it so therefore not proceed.
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I'm no legal expert and cannot understand why the lack of NDA reciprocity presents a deterrent to possible investment. Surely any potential investor has the opportunity to include their own NDA clause in the presentation of their funding/ investment proposals which can be waived at the time the proposal goes to the membership in accordance with the Gate Approval Process. Therefore why the need or desire for reciprocity on the part of the WST?