New Hampshire Non-Disclosure Agreement
Anyone who is planning on sharing confidential company information to a client, associate, or company should seriously consider executing a New Hampshire Non-Disclosure Agreement (NDA). This legal instrument is very effective in helping companies prevent their sensitive company information from being released to the public and competitors. While the law does provide certain protections to individuals who have had their confidential information taken or shared without their permission, these protections are incredibly limited in nature.
On the other hand, a party (called the “Disclosing Party”) who requires the party they disclose the sensitive information to (the “Receiving Party”) to sign an NDA, will have the option of suing them for damages if they divulge the information.
Trade Secret Law
New Hampshire’s Trade Secret Law, which is an adoption of the Uniform Trade Secrets Act, encompasses how the state protects the use of a company’s confidential information, namely the information that can be considered to be of economic value. Although New Hampshire’s Trade Secret Law is in line with the general Act, there are fundamental distinctions between the two sets of laws.
Notably, the state’s “Reason to Know” standard means a company can be summoned for misappropriation even if they should have known the information they were using was confidential. It is thus strongly suggested that the state’s nine (9) Trade Secret Law sections under Chapter 350-B (as provided below) are consulted prior to entering into an NDA of any kind.
- § 350-B:1 Definitions: Provides explanations of four (4) terms used in the chapter.
- § 350-B:2 Injunctive Relief: Covers when the court can issue an injunction, which is an order forcing an individual or company to stop a certain action (in this situation, misappropriation).
- § 350-B:3 Damages: Goes over when the complainant can recover damages from misappropriation.
- § 350-B:4 Attorneys’ Fees: Lists the situations in which the court will pay for the winning party’s attorney’s fees.
- § 350-B:5 Preservation of Secrecy: Notes what the court will do to protect a complainant’s trade secret(s), including ordering those involved in litigation not to disclose information.
- § 350-B:6 Statute of Limitations: Once misappropriation has been discovered, this provision establishes that the victim has three (3) years to bring a case against the perpetrator.
- § 350-B:7 Effect on Other Law: An explanation of how the Trade Secret Law affects other state laws.
- § 350-B:8 Uniformity of Application and Construction: A brief statement regarding New Hampshire’s efforts to make their Trade Secret Law in line with other states’ renditions of the Act.
- § 350-B:9 Short Title: The citable title of the chapter, which is the “Uniform Trade Secrets Act.”
How to Write
Which Non-Disclosure Agreement (NDA) Format is Best to Use?
|Format Type||Ideal For:|
|Microsoft Word||Making edits to the NDA.|
|Adobe PDF||Completing and signing the contract digitally.|
Step 2 – All involved parties should subsequently read through the document. For the purpose of ensuring all parties are happy with the final version of the NDA, changes should be made if either party sees the need.
Step 3 – The first piece of information that should be provided on the form is the Date the contract will go into effect. Following this, the Disclosing Party (the individual or entity who is disclosing the secretive information) must state their Full Name plus Address. Once they are done, the Receiving Party (the individual or entity who is being told the secrets) should also state their Full Name plus Address in the form.
Step 4 – A final read-through is recommended at this stage. Then, both parties should write their Names in print, their Titles, and the Dates in which they are attending to their parts of the agreement. Lastly, they should Sign their names in the designated fields.