NDA is a “non disclosure agreement” and IP means “intellectual property”. Sign the forms and sign NDA or IP transfer forms only if required by the client.
Knowledge in the industry is valuable and exposure of secret knowledge could be costly. Exposure could include industrial trade secrets, schematics, roadmaps, etc. Leaking information could lead to jeopardizing of patent application or competition.
IP belongs to the person(s) who created the idea(s). Often employment contracts transfers IP to the employer such that the IP belongs to the employer company or organization.
At UBC, the IP belongs to the student. However, in capstone project, the default understanding is that the IP is transferred to the client.
UBC has its own NDA template for capstone projects and is completed by students. They’re individually signed by each student.
IP Transfer Agreement
Should come up in a second meeting with the industry partner. They’re completed by students and signed individually be each student. They’re also signed by the legal counsel of the client’s company.
Since UBC does not transfer and IP, UBC and its employees are not to sign the agreement. Only signature from UBC instructor is to ensure that the agreement is valid and witnessed.
Under Canadian laws, the industry must pay students at least $1.