Nebraska Non-Disclosure Agreement
A Nebraska Non-Disclosure Agreement (NDA) may be executed by any individual or company in the state (referred to in the agreement as the “Disclosing Party”) as a legal mechanism for protecting purposely-shared Trade Secrets (confidential information) without concern that the party they communicate the information or data to (the “Receiving Party”) will share it with any other party outside the agreement. The binding contract details what can and cannot be shared after a certain date, and can be used in the court of law if any information is leaked by the Receiving Party without the Disclosing Party’s approval.
Trade Secret Law
Nebraska’s Trade Secret Act (§§ 87-501 to § 87-507) consists of seven (7) sections that cover how the state’s courts view misappropriation (theft) of trade secrets. Understanding the law is paramount for anyone signing an NDA in the state—either as a Disclosing or Receiving Party. Below, a summary of all seven sections the Act may be found.
- § 87-501: The title of the Act, which is the “Trade Secrets Act”
- § 87-502: Gives the definitions of four (4) commonly used terms throughout the sections.
- § 87-503: Covers injunctions, and situations in which the court will issue one.
- § 87-504: States when the complainant will be entitled to recover damages
- § 87-505: Notes what the court does to keep the integrity of trade secrets during proceedings
- § 87-506: Establishes how long a complainant has to bring a case of misappropriation after discovering it i.e., 4 years.
- § 87-507: States the Act only applies to misappropriation occurring after July 9th, 1988.
How to Write
Step 2 – The entire contract should then be read through, section by section, by both the party communicating the confidential information or data (the “Disclosing Party”) and the party they are communicating such information to (the “Receiving Party”). As compliance of the NDA is in part dependent on both parties agreeing to its terms, the contract’s terms should be tweaked until they are in complete agreement about the stipulated terms.
Step 3 – The third step in the process of creating and executing an NDA is to state the current Date. Next, the Disclosing Party should provide their Name and Address on the form. Once they have done so, the Receiving Party should do the same.
Step 4 – The final step entails both parties must provide their Printed Names, Titles (within their companies), and the Dates they are completing the contract. Only when all of the fields of the NDA have been filled out may each party Sign their names in the designated space and in turn prompt the term of the contract to begin.