Georgia Non-Disclosure Agreement
In the business world, maintaining a competitive advantage is pivotal. It can often make or break a company’s success, which is why it is vital that a company proactively protects their business secrets. Residents of Georgia can utilize the Georgia Non-Disclosure Agreement (also called a “Confidentiality Agreement”) as an effective legal measure designed to protect against an outside party from sharing a company’s carefully guarded secrets. It is a powerful document that, once signed, prevents the individual or company that learned the trade secret from sharing it with anyone not specifically granted in the contract.
Trade Secret Law
Below is an outline of each section of Georgia’s Trade Secret Law (Article 27). For those drafting and signing a Confidentiality Agreement in Georgia, it is crucial the parties understand the laws and regulations regarding the contract.
- § 10-1-760: The title of the Act, which is the “Georgia Trade Secrets Act of 1990”.
- § 10-1-761: Defines the commonly used terms “Improper Means,” “Misappropriation,” “Person,” and “Trade Secret”.
- § 10-1-762: Discusses how the court handles issuing an injunction (stopping misappropriation of a trade secret).
- § 10-1-763: How the complainant can recover damages caused by misappropriation.
- § 10-1-764: Situations garnering having the winning party’s attorney’s fees covered.
- § 10-1-765: What the court will do to preserve a trade secret.
- § 10-1-766: How long the complainant has to bring up an action of misappropriation (5 years).
- § 10-1-767: What laws Article 27 supersedes, and what the article does not affect.
How to Write
Step 1 – Download
Step 2 – Read & Edit
All situations are different. Because of this, the party issuing the NDA must read through the contract extensively before issuing the finalized version, making any changes necessary to encapsulate all sides of the situation. Once complete, both parties should sit down and read through the entire contract. If the Receiving Party (the one learning the information), feels as though there is a condition that should be added or removed, discuss this now and make any edits before moving to the fourth (4th) step.
Step 3 – The document will now be completed. Enter the current Date. Now, both the Disclosing Party (the person or company sharing the confidential information) and the Receiving Party shall enter their Full Names and Addresses into the appropriate empty spaces.Step 4 – Moving to the bottom of the contract, both parties will need to write their Printed Names, Titles (if not part of a company/institution, leave blank), the Dates in which they are signing, and finally, their Signatures. The recording of the handwritten signatures establishes the contract as binding, requiring all involved to abide by the conditions within the document until it’s expiration or another qualifying event.